Newbies, look here! ! ! !
You must not make this mistake! ! !
I found that 99% of retail investors have a fatal bad habit. After they buy long orders, once the price drops, they are unwilling to close the position, always hoping to wait for a rebound before exiting. Or when the price of the currency rises, they do not set a take profit, and when the price drops, they do not set a stop loss, so that the price falls all the way, and they lose the opportunity to reverse the situation, and then blame themselves for not closing the position in time. As the price gradually falls to an unbearable level, no matter how much money they made before, it will all be gone, and the loss will be unbearable.
This kind of trading behavior is extremely wrong. As long as you don't set a stop loss, even if the profit before is huge, once you make a mistake, it will all be gone. According to my research, all people with good trading performance will stop loss in time when they make a mistake, admit their mistakes, and start over. I am the same. Unless I am extremely sure, I will not easily increase my position. So before each transaction, I will make a clear stop loss plan to prevent a mistake from leading to a total loss. This is what a mature trader should have.
Therefore, every time I give advice, I will mark the stop loss point. Trading is a lifelong career. If you want to survive in this market and want to achieve long-term development, you must abandon this bad habit and set a stop loss plan in advance before each transaction, instead of fantasizing about "waiting for a rebound before exiting" after the price falls.
Again, if you don't know what to do in the bull market, click on my avatar, follow me, bull market spot planning, contract honey 🐎, share with you. Comments 888
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