Should i sell if i hit stop loss?(hv picture)

Hi i am a newbie of trading gold and sorry i am not good at english so if i hv wrong about grammar, please forgive me

i have a question about my trade before, here is the picture of chart, i trade gold with one of hong kong’s broker.The question is if i buy on blue line, above the high of previous candle, and set the stop loss below the low of previous candle. When the stop loss is hit, should i sell on stop loss? Thanks


why you have doubt there ? you decided stop loss to protect from losses and so when price is against you and come to that level …you should sell it to protect you…there should not be any doubt .

dont be afraid to book losses. They are the guardian. They are to help you in your journey.

what is confusing you ?

Because i afriad if the price just go to flat and not going down, it is wrong thinking for trade?Thanks

Do you mean “reverse”? Are you asking if it is a good idea to go short at the stop loss rather than flat? If that is what you are asking, I would answer: “GO FLAT”. If you are trading an always-in-never-flat strategy on a time frame that has you reversing every other day or so you are going to end up taking long strings of losses and irrecoverable drawdowns. Such a strategy can make money, but only if you are trading outside of the noise. You would need to place wider stops, put on smaller position sizes, and identify price swings that are much larger than two or three day moves. But remember: “Flat is often the best position to take.”

Thanks for answer, u mean if the price go flat, i still can use flat to take good position to trade?how can i do that?

You know - it really depends on the situation.
For example take a look on the chart here. supposedly you went long on a reversal candle here, If the price went through the range’s support and closed there - then it’s an obsolete sell for me.

i see, thanks. i will becare the situation and try to sell when i hit the stop loss

Always look on the context