I have observed a common phenomenon that most traders have a very risky habit. Yes, this habit is very risky for trading results.

That is, when the price of the currency starts to fall, they often choose to wait and see, hoping that the price will rebound before selling. However, such waiting is often accompanied by uncertainty.

For example, the price rebounded today, but they may not be able to sell because they missed the best time; tomorrow the price fell again, they may lament that they missed the opportunity to sell and decide to wait for a while; the day after tomorrow the price rebounded slightly, but failed to return to the previous level, they may choose to wait again.

In this way, as the price continues to fall, their previous profits are gradually eroded, and may eventually lead to losses. This trading method is obviously unwise, because once a stop loss point is not set, even if the previous profit is much, a mistake may lead to a total loss.

I have studied successful traders in depth, and they all have one thing in common: decisively stop loss when the price falls, admit mistakes in time, and then start again.

I also follow this principle. Unless I have absolute confidence in a certain value investment, I will set a clear stop loss plan before each transaction. Because only in this way can you survive in the market for a long time and make steady profits.

Trading is a long-term battle. If you want to survive in this market for a long time, you must abandon those deadly bad habits and set a stop loss plan in advance, instead of blindly waiting for a "rebound" after the price drops.

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