๐๐ปHey, my dear friends!๐๐ป
The weekend has come, it means, that the markets are showing slow activity.๐ด
๐ฉ๐ปโ๐ป Thatโs why I suggest you a little self-development.๐ฉ๐ปโ๐ป
โ๐ปToday I want to tell you my thoughts about stop losses.๐
Some traders donโt use stop loss, thinking that they work wrong and thatโs inconvenient.
In fact, if your stop-losses are triggered too often, then you set them incorrectly.
๐ For this reason, never try to put stop as close to the entry point as possible.
๐But itโs also not necessary put it too far from entry point, since the desire to โwait outโ does not lead to a successful result.
Many newcomers have another common mistake - they believe, that stop loss completely prevent the loss of money during transactions.
๐This cannot happen in principle - financial markets have their own rules, and losses here have always been and will be forever.
๐But over time, you can minimized it, by learning and development.๐๐๐ Believe youโll succeed!
Many trading books often teach how to place stops at support / resistance levels.
๐Concept of setting stop loss at significant levels is correct. But at the same time, it canโt be set at the very level!
๐You should put your stop loss above / below the support / resistance level, respectively.
๐๐You can find my previous idea at the link below.๐๐ป๐๐ป
Stay with meโ๐๐ป
Your Rocket Bomb ๐๐ฃ
The weekend has come, it means, that the markets are showing slow activity.๐ด
๐ฉ๐ปโ๐ป Thatโs why I suggest you a little self-development.๐ฉ๐ปโ๐ป
โ๐ปToday I want to tell you my thoughts about stop losses.๐
Some traders donโt use stop loss, thinking that they work wrong and thatโs inconvenient.
In fact, if your stop-losses are triggered too often, then you set them incorrectly.
๐ For this reason, never try to put stop as close to the entry point as possible.
๐But itโs also not necessary put it too far from entry point, since the desire to โwait outโ does not lead to a successful result.
Many newcomers have another common mistake - they believe, that stop loss completely prevent the loss of money during transactions.
๐This cannot happen in principle - financial markets have their own rules, and losses here have always been and will be forever.
๐But over time, you can minimized it, by learning and development.๐๐๐ Believe youโll succeed!
Many trading books often teach how to place stops at support / resistance levels.
๐Concept of setting stop loss at significant levels is correct. But at the same time, it canโt be set at the very level!
๐You should put your stop loss above / below the support / resistance level, respectively.
๐๐You can find my previous idea at the link below.๐๐ป๐๐ป
Stay with meโ๐๐ป
Your Rocket Bomb ๐๐ฃ
Write me if You need my support or wanna trade together ๐๐ป
Join me in๐๐ป:
๐๐ฃ t.me/+aAADzO1OqsQ2MGI0
๐ฐ I'm using Bybit and I highly recommend it to You. By using my link - You'll get a nice bonus
www.bybit.com/invite?ref=7X0W2A
Join me in๐๐ป:
๐๐ฃ t.me/+aAADzO1OqsQ2MGI0
๐ฐ I'm using Bybit and I highly recommend it to You. By using my link - You'll get a nice bonus
www.bybit.com/invite?ref=7X0W2A
