STOP LOSS, the most important 'tool' in your trade!
I hope that you saw the way I protect myself today from too big loss. Yes, I am using stop loss (SL) and yes, I am happy about that. Why? Well, you can see in my first EUR/USD trade that the price went 40 pips lower after my SL was hit. I have enter in that trade with 0,5% risk of my capital and the SL was 25 pips away from my entry. Without SL my capital will be -1,3% in danger now, only in that trade. That’s not big loss/risk as well, but I didn’t want to risk that much in one trade today. At my second, the GOLD trade, my SL was lower with 0,9% risk of my capital, 50 pips away from my entry. That one was hit as well. So what!? I made a 75 pips loss today and -1,4% loss of my entire capital, everthing thanks to the stopp loss. Yes, thanks for that. Trust me, You will be happy when you realize that SL is the best protection you have ever had, use it and protect yourself from a too big loss! I recive so many masseges from traders which don’t use SL, quess what happen with their account!? Let’s just say that they are the blue emoticons im my picture. The yellow one is me! 🙂