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Why is there no Stop Loss?
Why is there no Stop Loss?

An explanation on why we have not put a stop loss feature inside of Wealthybot.

Updated over a week ago

We experimented with stop loss and this was the conclusion. With a stop loss of -7% almost all trades were sold with a loss. That means that the total profit margin is gone because you need trades with a 7% margin to compensate for the loss. So in theory stop loss seems like a solution, but in practice it only eats up all the profit margin making Wealthbot not profitable.

You can always use the "stop purchases over a certain rate" feature if you feel like the charts are going too high and will be coming down hard. This is the best way to mitigate the Trader from buying on highs.

To learn more about this feature please visit the following article.

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