Quote from: tvplus006 on February 17, 2024, 10:31:20 PM

Quote from: Issa56 on February 17, 2024, 06:40:53 PM

And why do you think it’s a must to make use of stop losses if you are trading? When trading, stop loss is optional, you can decide to make use of it, or you can just leave it, it’s a choice. Some people have been trading for years, and they never made use of stop loss in their trades before, and things are really going well for them, and some people are always making use of stop loss in all their trades to reduce lose, so it’s just a choice.

Well, not everyone manages to neglect the stop loss for several years and at the same time make a profit. It is obvious that they have not left the terminal all these years and can close a position in a timely manner if they see that the price is moving in the opposite direction to expectations by 20-30%. For others, it is correct to adhere to the risk management strategy and set a stop loss to reduce their losses.

If you are confident with your trades and you are seeing high probability to be in profits, using stop loss may not be needed anymore. However, not all traders are confident with the outcome of their trades, and some are still first hand traders so most likely, if they want to cut their prolong losses, using stop loss will be beneficial.