The market is hot, be careful of the "stop loss trap"!
The market is really hot and chaotic now, and there is a trick called "stop loss trap" being used by those big guys. They are like whales, staring at the stop loss points of us small traders, deliberately driving the price up and down, forcing us to lose money and exit, and then they can control the market.
What is a "stop loss trap"?
It means that those big players deliberately trigger our stop loss orders and let the market follow them. In this way:
1️⃣ We have to sell the goods in our hands when we lose money
2️⃣ They can also create panic, making us small players panic, and they can control the overall situation.
How to prevent it?
1️⃣ Stop loss points must be smart:
Don't set a stop loss point casually, you have to see where the main support and resistance levels are, and then put the stop loss point near them. Don't be too tight, otherwise it's easy to be targeted by those big guys.
2️⃣ Don't be carried away by emotions:
Don't act recklessly because of fear or greed, you have to follow the plan.
3️⃣ You have to be able to analyze:
You have to use some smart methods, such as the smart currency concept (SMC), to understand what the market is doing. You also have to be able to read candlestick charts and technical indicators, so that you can know when to enter and when to exit.
4️⃣ Always pay attention to the news:
Read more news and understand market trends, so that you can know in advance how those big guys may move.
To sum up:
The "stop loss trap" is a trick used by those big guys to make us small traders panic. We must always be prepared, use some smart methods, and don't be swayed by emotions to protect ourselves.
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