Most people have to set a stop loss when trading. Is it okay not to set one?

I have studied many cases of great traders and found that they were cautious in trading in the early stage. They would definitely set a stop loss strictly and attach great importance to their risk control. However, after making a lot of money in the later stage and becoming arrogant, they did not pay much attention to risk management and suffered frequent losses, which led to the fall of many great traders.

I don’t know how many times Brother Ming has suffered losses without setting a stop loss. I only know that I have been liquidated countless times because I did not set a stop loss. After three or four years of review, I found that no matter what era or what market conditions I encountered, as long as I did not set a stop loss, I would always encounter the day of liquidation.

So for Brother Ming, stop loss is very important, even more than profit itself. Not setting a stop loss means that you have no risk control, your emotions will be infinitely magnified when you lose money, and your future trading results will be full of uncertainty. If you add a heavy position at this time, then basically encountering a big market is a disaster, either making a huge profit or returning to zero, which is essentially no different from gambling.

So whether to set or not is still a personal choice, but Brother Ming will definitely set a stop loss.

I am Brother Ming, I have been in the trading market for more than ten years. If you have any questions, please find Brother Ming. Welcome to chat!