Got in a discussion with a friend that recently started learning Technical Analysis and then he said he trades without using stop Loss. I told him no good trader trades without stop Loss. I tried to explain to him about the volatility and how trades can go against you especially as a newbie and you can lose heavily. He seems adamant and I decided to leave him maybe he will learn from his own mistake if it happens. It seems there are also many traders that trade without stop Loss and I wonder how they do it conveniently.
Please share your views on how important stop Loss is and how convenient it can be to trade without stop loss.
You are TRUE that he will learn from his own mistakes. You should have explained it to him and you fulfilled it. You have nothing else to do here. Many people want to understand this issue and many do not. In my sentiment, just as a tortoise hides under its hard shell when it detects a problem, so does a stop loss to me. Stop Loss acts as a safeguard in our trading. If there is a loss and no stop loss is imposed then it is entirely over. Conceivably most people can't withstand it.