Quote from: palle11 on Today at 03:07:42 PM

Quote from: livingfree on April 09, 2022, 10:46:20 PM

You don't want to get a loss if you're closing the day with your positions and it doesn't matter whether you've gained much or just a little.

I think the fear of closing a lossing market dreads the trader but no choice on that. It is better to close a lossing market while it is still small than when the loss has accumulated. There is a way that you can manage a lossing market over the day. To that you can use the stop loss so that it stop the trade when it gets there.

This is true, I have read about some of the worst losses that traders have incurred and most of the time it has to do with a refusal to use their stop loss, basically they make a trade and then the market turns against them and their trade hits a level in which they should sell, however they get emotional and decide to not do so or even to add to their position, then the market keeps going down and now their losses are even bigger, this makes them even more emotional as they do not want to lose so much money and refuse to sell, then the inevitable happens and their losses are so big that no one can recover from the losses they have incurred regardless of how skilled they could be.