#TradingStrategyMistakes traders face the psychological difficulty of setting a stop loss when entering a trade. There are too many thoughts and fears—like market makers are "hunting" for them, trying to keep them out of the trade and denying them the chance to catch the wave of a bullish run.
⭕️on the other hand, it’s obvious that a stop loss is MANDATORY. The same importance a take profit order has.
⭕️It’s painful to watch profits disappearing before your eyes, even when the price hasn’t yet reached the target. You close the trade with a small gain on a pullback, and what happens next? PRICE SKYROCKETING to your goal.
❗️I’VE SOLVED THIS PROBLEM. ❗️
I developed a bot on python that automatically places take profit and stop loss orders as soon as a position is opened. Working through binance api while you trading on laptop or PC
I tested it for a few days, observing my emotions while in a trade, and I genuinely feel way calmer now. But I’ve set one strict rule for my strategy:
❌No matter what the price does, I either take a small loss or lock in my take profit. PERIOD. NO EXCEPTIONS.❌
This bot has a dedicated interface with:
- **Buttons** to adjust the size of both orders (% of entry price),
- **A log window** showing order placement details,
- **Real-time PNL updates** when a stop or take profit triggers.
Would this bot be useful to many of you? I’m considering sharing it for a small fee, but it needs some polishing first. **Like and subscribe for updates!** #TradingStrategyMistakes