Quote from: Zilon on November 01, 2022, 09:32:54 PM

If the trade is entered where stop loss is fixed it doesn't guarantee the analysis is right. I think the idea of stop loss is to prevent excess loss incase the analysis goes wrong so in that case even after waiting for the price to hit where the presumed stop loss was meant to be and it the trade gets executed a stop loss will still be needed incase things goes wrong.

Exactly, the idea of stop loss is to cut further losses, but also it means part of your trading fund liquidation. But stop loss are for high risk traders is all that I know, low risk traders are still perfectly fine with high volatility to some extent after making use of averaging and increasing leveraging. I do not expect a trader that start with 0.2x leverage to be thinking of stop loss while having backup to increase it to 1x after the trade against him.

Quote from: EarnOnVictor on Today at 06:26:26 AM

Once your trading strategy is good, the use of stop loss is the best. This is because I quickly recover my losses after losing through stop loss, but it takes more between 3-4 trades at time to recover some losses of not using it.

If a trading strategy is good, it depends on the strategy, stop loss could be detrimental in some cases, and low risk trading is just one of it. Why setting stop loss after you only still has little unrealised loss after few volatility? Only a good strategy is the strategy that makes you have a net profit, nothing else.

As people say newbies should use the amount of money they can afford to lose to trade, so is stop loss recommended for newbies, just newbie. As they further trading, they may decide to use it or not after developing different strategies to see if it works for them or not.

I am not against the topic though, I am only against that stop loss is not for every trader.