Many people like to hold orders. You can hold out for nine crises, but it only takes one mistake to return to zero. Many people blame their positions for misjudgment after they have been liquidated. In fact, the key is that no one can be right all the time, and most of the time we make mistakes. The real culprit of a liquidation is often not setting a stop loss.
Perhaps you find that after several stop losses, you find that it is ineffective and no longer set it; or perhaps, you find that holding orders can actually make back your investment most of the time, so you firmly believe that holding orders is the right choice.
However, there will always be a time when you will not be able to recover, such as now - if you do not set a stop loss in advance, even if you want to stop loss in time, it may be too late.
Remember, it is not difficult to hold out for nine crises, but a return to zero is enough to be fatal. Setting a stop loss is the key to protecting yourself.
