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?
you should realize how much can you afford to lose for each trade.
that would be your stop loss. if you trade without a leverage and don't afraid to lose it then you can use only take profit.
so that we do not get losses continuously by stopping trading first the best way, because now is the time to hold not trading, especially every day trading
I suggest if conditions like today are better you do not do daily trading because if you trade daily then it will only make you confused because movements that can not be predicted better you apply long-term trading so that the benefits you get can be more.
Day trading can only get one confused when you dont plan taking profit once or twice and get out of the market, if you have the mindset of taking profit once a day no matter how little without the mindset of getting huge profit before leaving, it should not be confusing, I trade daily and in the history of my trading.
I dont lose often not because I am so perfect but because I put all my analysis to test first and at the same time take the little profit I can get for that day while still HOLDIG some for long time, so you can actually benefit from both if you play your cart well.