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Always Trade With a Stop Loss
We have heard it said, “The first loss is the smallest.” This means that when you are stopped out at your stop loss this will be the smallest loss as compared to letting it run and thinking the trade will come back.
Then when the trade becomes more than you can deal with you close the trade for a huge loss and are happy to have anything left in your account.
Losing is a part of trading. Controlling those losses is good money management. A stop loss is as important as a good entry or exit signal. We suggest starting out with a small number of lots, placing your stop loss, then adding on to the trade when it goes in a positive direction. If the stop loss is hit you have only risked a small portion of your account. It is ok to lose if you are in control of the losses.
We have heard it said, “The first loss is the smallest.” This means that when you are stopped out at your stop loss this will be the smallest loss as compared to letting it run and thinking the trade will come back.
Then when the trade becomes more than you can deal with you close the trade for a huge loss and are happy to have anything left in your account.Losing is a part of trading. Controlling those losses is good money management. A stop loss is as important as a good entry or exit signal. We suggest starting out with a small number of lots, placing your stop loss, then adding on to the trade when it goes in a positive direction. If the stop loss is hit you have only risked a small portion of your account. It is ok to lose if you are in control of the losses.
