Are there any risks or drawbacks to using trailing stop loss on KuCoin for cryptocurrency trading?

1 answers

• sushilkumarJul 30, 2024 · a year ago
  As an expert in cryptocurrency trading, I can say that using trailing stop loss on KuCoin for cryptocurrency trading does come with some risks and drawbacks. One potential risk is the possibility of a technical glitch or system failure on the exchange's end, which could prevent the stop loss order from being executed properly. Another drawback is that trailing stop loss orders may not be suitable for all types of trading strategies. For example, if you are a long-term investor who believes in the long-term potential of a cryptocurrency, using a trailing stop loss order may result in premature selling and missing out on potential gains. It is important to carefully consider your trading goals and risk tolerance before using trailing stop loss on KuCoin or any other exchange.
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