The stop-loss strategy #止损策略 is the key defense line for investing. It can prevent deep losses due to adverse market conditions and cut losses in a timely manner. Setting the stop-loss level should consider the volatility characteristics of the investment variety and one's own risk tolerance, executing mechanically without any wishful thinking. Although this strategy may lead to small losses upon exiting, it can preserve the principal and leave opportunities for subsequent investments. It is a powerful tool for controlling risk and ensuring returns.