Stop loss, or should we say stop profit
The recommended settings for our signals is to trade WITHOUT a stop loss, and if you look through many of the bots on 3Commas, the majority are without a SL. This is however contrary to what many traders have been taught and certainly leads to concern and confusion. We are not advocating with or without stoploss, that is for an indiviidual trader to decide. But if using our signals, it is demonstratably more profitable when run without. This of course means you have to follow good money and trade management.
Below are a few examples taken from the live 3Commas Market Place stats.
All these trades are based on Keiko signals and all seemingly have loses.
Initially there was a loss, we don't know the circumstance since this was one of our members who received our signal. We assume the trader set (against advice) a stop-loss of -3.70% and the trade was closed at a loss when price moved.
The image above shows the same trade a few hours later, which when given time and space to complete the trade closed in profit of +1.63%.
BTC-ETH and BTC-FUN
Two trades opened within a couple of minutes of each other. The lower image shows that trades were once again closed, perhaps manually or by SL, yet once again both trades closed in profit.
Another trader losing -2.26%, most likely due to SL whist the trade went on to reach the target TP of +1.60%.
With this trade we were able to capture 3 instances of the trade from the 3Commas Market Place stats.
Initially the trader was stopped out for a loss of -3.16%, at a later time other traders closed at a profit of +0.91% and ultimately the trade completed with a max profit of +2.07%
More of the same, this time the trader lost -4.60% whilst others went on to get a profit of +4.86%.
We have executed thousands of trades based on Keiko Signals without using a stoploss for months, and it is highly profitable. It would have been far less profitable had we used a stop loss.
Whilst it is important for traders to make their own decisions regarding how to trade, if your intention is to use a stop loss then perhaps a different signal provider would be a better choice, or discretionary trade, where we would certainly advocate the use of SL.