Liquidation is something I fear the most in my trading history, because no matter how sure you are about a trade, the market can decide to go otherwise. If you've only set a take-profit (TP) without setting a stop-loss (SL), you'll surely face liquidation at the end of the day.
A seasoned trader once said it's better to hit your SL than to liquidate, because you'll have something to fall back on to recover your losses.
Stop loss is very important in trading and I’m so surprised to come across people that don’t really fancy putting stop loss on their trades, they believe in their analysis so much and they believe it’ll never hit the zone that the stop loss was set to be. The market is very unpredictable and you can’t be so sure that your analysis will go well as we all trade base on probabilities and not certainties. A world of advise for newbies and upcoming traders, stop loss is very important in your trades as it gives you the privilege to get to trade again while learning to avert from your previous mistakes when taking another trade. It is better to hit your stop loss and not liquidate and I also believe in the the theory that it’s better to miss entry than to hit stop loss in a trade. All this is to avoid liquidation.