Why I Donât Use a Stop Loss đš
Many ask why I donât use stop loss on my trades. Well, hereâs my approach: I donât rely on conventional stop losses but instead use *emotional stop loss*. đĄ
Hereâs How It Works:
đč Risk Management: My stop loss is set to 1%-3% of my capital. For example, if my capital is $1,000 and my stop loss is 1%, then Iâm risking $10 per trade.
đč Limit Orders Strategy: I place limit orders at resistance levels. When my limit order is triggered, it automatically drags my breakeven level to the current price.
- Breakeven Level: This is the price point at which thereâs no profit or loss ($0.00).
This strategy gives me more confidence not to rely on traditional stop losses, as my breakeven adjusts dynamically with the market.
Exiting a Trade đȘ
If all my limit orders are hit and the price keeps moving against meâapproaching my emotional stop lossâor the gap between the breakeven and current price becomes too wide, Iâll exit the trade.
Key Takeaway: Never use stop losses aggressively. Instead, trade strategically and professionally! đ§ đ [ let use to create youtube video script, then twitter post
Many ask why I donât use stop loss on my trades. Well, hereâs my approach: I donât rely on conventional stop losses but instead use *emotional stop loss*. đĄ
Hereâs How It Works:
đč Risk Management: My stop loss is set to 1%-3% of my capital. For example, if my capital is $1,000 and my stop loss is 1%, then Iâm risking $10 per trade.
đč Limit Orders Strategy: I place limit orders at resistance levels. When my limit order is triggered, it automatically drags my breakeven level to the current price.
- Breakeven Level: This is the price point at which thereâs no profit or loss ($0.00).
This strategy gives me more confidence not to rely on traditional stop losses, as my breakeven adjusts dynamically with the market.
Exiting a Trade đȘ
If all my limit orders are hit and the price keeps moving against meâapproaching my emotional stop lossâor the gap between the breakeven and current price becomes too wide, Iâll exit the trade.
Key Takeaway: Never use stop losses aggressively. Instead, trade strategically and professionally! đ§ đ [ let use to create youtube video script, then twitter post
