Good day fellow traders, I'm thinking of using stop loss order in my trades, can you give me some advice how you use your stop loss order?
Anyone here that is trading without stop loss is making a big mistake. I have seen a lot of traders, especially new traders, who trades without using stop loss and at last they will start looking for what to blame, while they are supposed to be blaming themselves for not setting their stop loss.
Not setting up stop loss is the worst mistake a reader can ever make, because you never know when the price will fall. So urs best to setup your stop loss so that you dont lose too much of your money when the price starts to fall. There are already lots of links here, dont need to post more.
Are you sure? Its seems you havent test out to trade on different market conditions.Did you already have the experience on using a stop loss? How many times it being triggered or eaten up by price volatility?
Im a trader but i dont set up stop losses.Why? because you wont able to to chase up easily on what you have lost once that SL is hitted. unlike on having a free or open order you can simply wait up there might be a big risk but i can still embrace it.