Hi Everyone,
I recently joined.
I have been trading for a while on and off. How often do all the successful traders put stop loss? is it like when ever they open a position they make sure it has a stop loss?
How to know that you have been wronged and it is time to get out ASAP.
Thank you
Yes, always using a stop-loss. There is nothing to gain from not using one.
Simply put, your stop loss should be where your entry is proven wrong. You have to give it room to breathe, but your entry should be based on some type of price action you see. When you are wrong in your thinking, it’s time to get out.
Always have a hard stop on every trade as trading without one can be lethal to your account , this may help
Stop loss will protect you from sharp market movements. You can apply it to every trade.
I need to follow this lol
right now totally i am just waiting to be normal the whole environment , never trade even though some sure point comes. just confused.