9. No Trade Without Stop Loss
Stop loss is the most important phenomenon of trading. Markets are extremely volatile and it is very hard to predict how much the market is going against traders.
So if trader trade in overconfidence and do not place a stop loss order then their account is one step away from going to zero. Always trade with stop loss, which is extremely important. Stop Loss always says to traders,
“Go Ahead and Take Risk I am Here to Support You.”
Sometimes market hits traders stop loss and then give target, after this type of situations traders think like stop loss is their enemy but its not truth.
Actually stop loss is traders friend because he save traders capital from big loss. So traders have to remember this always and place their stop loss as per setup, market structure, logic and chart nature.
