I found that 99% of retail investors have a rather fatal bad habit. After buying long orders, once the price starts to fall, they are reluctant to close their positions, always hoping to wait for a rebound before exiting. Or they will not set a take profit when the price of the currency is high, and will not set a stop loss once the price drops a little. As a result, the price falls all the way, and they lose the opportunity to turn the situation around, and then they will blame themselves for missing the opportunity to close their positions. As the price gradually falls to an unbearable level, no matter how much money they made before, it will be gone, and the loss will be unbearable.

This behavior is by no means the right way to trade. As long as you don't set a stop loss, even if you have made a lot of profit before, once a mistake is made, everything will be gone. I have studied that all people who perform well in trading will decisively stop loss when they make mistakes, admit their mistakes in time, and start over. I am the same. Unless I am extremely sure, I will not easily add investment. Therefore, before each transaction, I will make a clear stop loss plan to avoid a mistake that will lead to a total loss. This is the quality that a mature trader should have.

Therefore, every suggestion I give will include a stop loss point. Trading is a lifelong activity. If you want to survive and develop in the market for a long time, you must get rid of this fatal bad habit. Set a stop loss plan in advance before each transaction, instead of fantasizing about "waiting for a rebound before exiting" after the price falls.

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