Cut losses quickly. Don’t be reluctant to stop out—stop loss is your biggest private protector on the road to profits. When you cut, cut decisively; just keep your profits.
One of the biggest problems for retail investors is that they’re unwilling to stop out. They don’t want to accept losses; they only want everything to be profitable. But trading has uncertainty—this market’s rule is that you win and you lose. As long as you lose less when you’re wrong, and when you’re right you hold on firmly and take hold of the gains.

But many people do the opposite. When they’re losing, they stubbornly hold on, even adding to their position to counter an order. When they’re making money, they take a little profit and run. How could this ever avoid getting liquidated? Even if you do it in the market for a hundred years, you still won’t be able to make it work.
If you’re wrong, cut it. If you’re losing, admit it. Isn’t that the basic quality of a qualified trader?