#FOMCMeeting $SOL In trading, always setting a Take Profit (TP) and Stop Loss (SL) is not just a suggestion — it's a rule for survival. TP ensures you lock in profits at your target level, while SL limits your losses when the market moves against you. Without these, even a winning trade can turn into a loss due to sudden reversals.

Many traders skip TP/SL out of overconfidence, hoping for bigger gains or fearing early exits. But emotions are your worst enemy in the market. SL protects your capital; TP protects your mindset. It’s about discipline, not luck.

A proper SL prevents account blow-ups and keeps you in the game longer. TP helps maintain a consistent risk/reward ratio, ideally at least 1:2, meaning for every $1 you risk, aim to make $2. Over time, this improves profitability even with a 50% win rate.

Set your TP/SL before entering the trade — not during. It’s part of a complete strategy, not an afterthought. Respect them. Adjusting them emotionally mid-trade often leads to losses.

Remember: “Trade without a plan is gambling.” TP and SL are your plan’s safety ropes. Use them — always.