trading and investing are not one-dimensional disciplines.
people very often make the terrible mistake of remaining stagnant on one main idea, not allowing themselves to be flexible enough to change, or have a plan B in case the main scenario turns out to be invalid.
every setup can be invalid, it's a matter of probability that can change in an instant due to additional charts
the main goal of a trader/investor is not to be right 100% of the time, but to have a good track record over the long term, which means that good trades should outweigh bad ones.
in this context, using stop losses and closing trades below SL is crucial, and personally I prefer to lose a small % and move on, rather than painfully hold on to a potential -30% because... "another -3% and I'm sure it will bounce".
for "long term investing" the story is very similar and that's why you should watch the charts because if an asset loses key marks it will fall hard (or not, depending on the importance of the level below).
stop holding blindly, that's why 90% of people lose money in this space.
a bad trade should not affect your overall path, especially from a psychological point of view.
anything happens in life, the main thing is to be able to learn from this mistake and improve next time.
those who are stuck in the past will never achieve great success in the future.
#StopLoss. #TradingMadeEasy #10MTradersLeague #SUIHitsATH #USPPIAboveExpectations
