#Did_You_Know:

⛔️ What is Stop Loss!

🤔 It is a trading order set in advance to automatically close your position when the price reaches a certain level of loss.

🤔 Its primary goal is to protect capital and reduce risks.

📌 Types of Stop Loss Orders:

🤔 First, Fixed Stop Loss:

🤔 You set a fixed price at which the position will be automatically closed.

🤔 Second, Trailing Stop Loss:

🤔 It moves automatically with the price direction in your favor, but does not revert back. It protects profits without limiting gains.

⭕ Practical Example:

🍏 You bought a currency at a price of $200.

🍏 You set the Stop Loss at $180.

🍏 If the price drops to $180, the currency is sold automatically.

🍏 Result: You lost only 10% instead of potentially losing 30% or more.

✅ Why it is Important:

✅ It prevents emotional decisions under market pressure.

✅ It reduces significant losses caused by sudden movements.

✅ It helps you stick to your trading plan.

⛔ Common Mistakes to Avoid:

✅ Completely ignoring the Stop Loss.

✅ Placing it too close to the entry price, causing it to trigger with minor market moves.

✅ Changing it during a loss out of hope or hesitation.

📌 Light Advice:

Trading without a Stop Loss is like driving a car without brakes. The adventure is nice, but safety is better!

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