I have been trading for about 10 years, and I believe I’ve survived this long because I emphasize the mindset of avoiding losses over chasing wins.
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2. Before entering, first decide your stop loss
This is a basic principle of trading, but many people may not be able to follow it strictly.
Originally, what should be decided before entering is the stop-loss level, not the profit target.
How far should you let it go against you before withdrawing?
With that stop-loss width, what would be the actual amount of loss?
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