If you trade with no stop loss and proper risk management, then your prayers will be of no use.Mr.Market(god in trading) will punish for our action of no stop loss and taking huge risks.So, never forget this law of Mr.Market(god). Never take emotional decisions of greed and trying to recover losses rapidly in next trade. No God cant save us…Keep it in mind always.
The only traders that don\t use stop loss are 60 seconds scalper, Some don’t even risk not using stop loss. It is very important. New traders who have not yet understood the importance might still not use it for a start.
Yes, always use a SL
It is a gradual process for new traders; they will learn eventually. Even those who scalp have experienced the bad side of not using SL. The market could explode at any moment.
Traders who are new must always make use of the Stop loss while trading so that in the event their trade gets wrong the losses will remain limited.
Stop Loss Trading plays a significant role in providing security. Risk control is never possible without stop loss. Stop Loss must be used to get overall trading success.
You are right. Sooner or later everyone comes to realise how crucial it is to use stop-loss even the ones that claim to have some kind of emotional stop loss.