When trading cryptocurrencies, I truly realize the importance of TP and SL. Honestly, trading without these is extremely risky.

First, let's talk about SL (Stop Loss). Basically, it's setting a "defense line" to cut losses when the price drops to a certain point. For example, if you buy Ethereum at $3,000 and set an SL at $2,800, then if the price falls to $2,800, it will automatically sell, limiting your loss. Instead of emotionally thinking "it'll bounce back someday," the greatest value of SL is that it allows you to mechanically cut losses.

And the other is TP (Take Profit). This is the opposite—setting a target line to take profits when the price rises to a certain level. If you buy Bitcoin at $40,000 and set a TP at $47,000, then when the price reaches that target, it will automatically sell. This prevents you from waiting out of greed, hoping for even higher prices, only to see the price fall and regret it.

In short, TP and SL manage both profits and losses. I believe this is the basic strategy to survive in crypto trading. Because they are executed automatically, they help avoid emotional decisions, and planning ahead makes it psychologically easier. With TP and SL, you can respond calmly even in rollercoaster-like price movements.