Unexpected Losses on Bitget with Stop Loss Set

I've set my stop losses around 50 bucks, but recently, I lost way more than that on Bitget. Two trades in the USDT-M Futures for the PI-USDT pair left me with a $150 loss in one and $87 in the other...

Those losses you're mentioning aren't really your stop loss's fault. How do you even know there's low volume for PI? Maybe you just missed the price action when you set your SL. And you said you trade other pairs fine, right? Maybe the problem's on your end. Anyway, sad to hear about your losses.

So I reached out to Bitget support, and they said this: "The price fluctuated greatly, so a slip was expected." I get slippage happens, but if I set a stop loss at $50 and end up losing $150, that's just ridiculous!

You traded a volatile futures contract. Gotta be careful with the order types. There's a difference between stop limit and stop loss orders. A stop limit executes at your set price, but if the market moves too fast, it might not execute at all. What type did you use?

Looks like you ran into a liquidity issue. Your stop loss might not have executed properly because there weren't enough orders to fill it. Switching to a stop-market could help avoid this.

Stop limit orders don’t execute away from the price set. If the market's moving too quickly and it doesn't trigger in time, then you get stuck holding your position until it bounces back or gets liquidated. Sounds like you used a stop market order and faced slippage.

Not sure if a limit order is your problem here. I think you’re talking about a stop-loss order. @OP, how did you set your stop-loss? If it was just a partial amount, that could cause bigger losses. Check if you set it right.

It was set to the full amount, so that’s not the issue... but thanks for the tip.

Thanks for the feedback, everyone. Yeah, it seems like slippage from a fast market is what hit me hard. So if I’d been trading a more liquid coin like BTC or ETH, would that have prevented these issues? Seems like Bybit has better liquidity overall.

If it was set to the full amount, then slippage and rapid price changes are likely the culprits. I had similar issues on Binance but switched to OKX and haven't faced that problem since.

This rapid price movement is a killer. I’ve been liquidated on multiple exchanges because of it. Set your SL, and then bam, the price shoots down or up before you know it.

Definitely, Bybit has higher volume and liquidity, no doubt. Can't compare it to Binance at all. But yeah, every exchange behaves differently.

I’ve traded on Bybit and Digifinex without issues, but had a similar bad experience on Coinstor. With Bybit, when you hit your stop loss, it stops you out exactly at your price. No crazy slippage.

I had a nightmare on Binance in 2021. Set a stop loss, got liquidated because of a wild price swing, then it went back to normal right after. Learned that exchanges can screw you over.

Totally agree! The more funds involved that aren’t yours, the higher the risk. Smaller coins are always a gamble.

Don’t get lured by platforms promising huge returns. If Bybit worked better for you, why switch to Bitget? Always check the reputation.

It all comes down to the buy orders on the exchange. If there aren't enough buyers, your stop loss may get executed at a much lower price. To avoid this, maybe switch to a stop limit order next time.

All exchanges have traps, we just don’t see them until it’s too late.

Yeah, thin liquidity can wreck your trades. I hate dealing with new contracts for meme coins. Always check the order book and volume, or you're setting yourself up for failure. Risky business.

Is there any proof for this theory? I think PI is just low liquidity on Bitget. A fast price drop could execute your stop loss at a worse price, causing bigger losses. Use limit stop orders or dodge low liquidity pairs for safer trades.