The strangest anomaly of online trading is the fact that the more you lose, the more you gain, as long as the system has a proven probability of success on a large amount of data.
The trick is to minimize losses using stop loss and risk management techniques, and then make the most of winning trades when they arrive. Only in this way can you make a profit.
Not using stop losses is equivalent to jumping out of a helicopter without a parachute, at most with an umbrella, hoping to be able to glide like Mary Poppins.
Stop loss is often maligned because it is equated to loss, but losing money is part of the normal process of learning and investing in forex.
Stop losses help protect our capital from too large losses (and the aforementioned margin calls).
A lot could be written about stop losses, starting with how much stop loss to set.
You must develop absolute trust in the system you are using to trade, follow entry, exit and all other rules judiciously and without needing to guess or ignore signals.
The best traders think in terms of probabilities, not in terms of profit or loss on each individual trade.
These odds are determined by the number of times you gain, and how much you gain versus how much you lose.
If you don't know your odds of success, then you are gambling, not trading online.
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