Wrong Mindset About SL

Trading stocks, forex, gold or whatever doesn't always produce a profit, sometimes it can also be a loss. If you're not careful, not only will you lose, but all of your capital may run out or be subject to a margin call (MC). The key to success in trading is to minimize losses. The trick is to limit losses so they are not too big.

Stop loss is an automatic trading order to close a position after an asset reaches a certain price. Stop loss orders can be found on almost all trading platforms, are placed at the start of a trade and can be modified at any time. Even though it sounds complicated, stop loss is one of the basic principles of risk management in forex trading.

Stop loss that is too far from the entry level risks a relatively large loss in one transaction. To avoid this, traders can place stop losses according to the risk tolerance limits that traders can accept. Usually, the loss risk limit for novice traders is in the range of 1% -5% of capital for one transaction. Choose a risk limit as comfortable as the trader and follow it consistently.

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