A stop loss sells a position for a loss when the market is moving down. Even if you follow just one publisher, some of their strategies may have stop loss settings, and others may not.
A stop loss sells a position for a loss when the market is moving down. The intent is to protect you from further loss and then buy back in once support is found (although it doesn’t always play out this way).
Most CopyCat publishers you subscribe to contain multiple, distinct strategies. This means that even if you follow just one publisher, some of the strategies may have stop loss settings, and others may not.
Here’s an example. Say you follow Publisher X. Publisher X actually has 10 different public strategies within their account to watch different signals. The strategies’ stop loss settings look like this:
- 4 Bitcoin strategies: 2 have a 5% stop loss, 1 has an 8% stop loss, and 1 has no stop loss.
- 4 Ethereum strategies: 2 have a 5% stop loss, 1 has an 8% stop loss, and 1 has no stop loss.
- 1 Bitcoin Cash strategy: No stop loss
- 1 Litecoin strategy: 10% stop loss
If you follow Publisher X you’d have positions stopping-out at different points, and others never selling for a loss.
It’s important to note, if you feel the market will continue to go down (or is about to go down) and want to exit a position, you can always manually sell a position from the Activity > Open Positions screen.