فصل 2 Rules to Follow When Using Stop Loss Orders
Once you have make a trading plan with your stop loss level, you should also keep in mind that the stops should be executed as you planned. Thus there are three rules for you when making a stop loss orders.
Rule #1: Don’t let emotions be the reason you move your stop
It does not matter whether you are reading sophisticated trading books or just browse around online trading forums, almost every trader seems to be aware of the fact that psychology has a big impact on trading performance.
Trading is always an emotional roller coaster, and it’s easy to lose patience because of fear, or risk too much money because of anger. Making emotional decisions is the most dangerous thing you can do as a trader, because trading on feelings without some kind of plan in place is no different to gambling at a casino.
Especially when a trader opens a position, fear can make traders close positions early and often before hitting a target stop loss. Like your initial stop loss, your stop adjustments should be predetermined before you put your trade on. Don’t let panic get in the way!
Rule #2: Do trail your stop
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