Why do you need to set a stop profit and stop loss?
If the United States does not cut interest rates, you are in China during the day and have nothing to do at night.
You stay up until 2-3 o'clock and fall asleep in a daze. Suddenly, at 4 o'clock, a news of an interest rate hike is released.
You are still sleeping. When you get up, it is already 6 o'clock. You have lost 50%.
At this time, if you set a stop loss, you can lose less.
Stop profit: When you are asleep, the market here is still fluctuating.
There are several short-term pull-ups, and one of them just happened to be pulled up to your stop profit position.
Not only did you not lose, but you also made a small profit.
The habit of setting a stop profit and stop loss is to prevent the dealer from stealing your home in your free time!