Is $ZK good choice? | Giorgi Burkadze on Binance Square

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Giorgi Burkadze

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Is $ZK good choice?

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ZK

0.222

+1.92%

710

0

Replies 1

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Giorgi Burkadze

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Why is it important to use stop loss in trading? When you do not use stop loss and take profit, the risk of emotional trading increases, which can turn into scalping, which increases the risk of loss more than the chance of profit. Why? When we see that we have opened a position and it is going the opposite direction, we may emotionally close that position and in the worst case, we may open a new position in the opposite direction and if this happens often, we will lose a lot of money. Well-placed take profit and stop loss help us avoid this because when we place take profit and stop loss based on technical analysis in a place where we consider it necessary, it reduces the risk of emotional trading and scalping, and in case of loss, we lose the amount on which we set the stop loss and then, if necessary, we open a new position or wait for the right time. However, opening a new position should not be done on an emotional background, in order to recover the loss, which is why technical analysis and reducing emotional trading are important issues when trading on the stock exchange. Finally, remember that it is not necessary for all open positions to be profitable. For successful trading, it is not necessary for all open positions to be profitable. For successful trading, it is necessary for the amount won to be greater than the amount lost, that is, we exit the market with less lost money and more profit on open positions. I hope these tips are useful to you, I wish you successful trading! #advice #TechnicalAnalysiss #stoploss #StopLossStrategies

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