How to use the Stops EP.1 (No stop)Juno
Today, in this video we will talk about the use of stops.
I will try to present the different techniques that are quite common. Some that don't work or not very well, then one or two that seem more useful to me and, particularly, easier to learn. Even if you are just a starter.
The purpose and goal of this article is that at the end, you will have in hands a technique that really works. One technique that has often helped me out of bad situation, and even saved me on some bad markets.
The use the Stops :
There are many ways to see the use of stops. There are many people who don't agree about it. There are people who don't put stops. So, if you are in this case, if you think the stops are making you loose money, I advise you to really think about it once more.
I trully don't know a single trader alive (in the long-term) who does not put stops.
The mental stop :
Some of you may say: "Yes, yes, but we put a mental stop". The mental stop, which I know very well because I have tried. You always end up raising your stops or lowering them. And in the end we loose. We lose more much more than what we could have lost if we had put a real stop in the machine.
What about the brokers ?
There are some traders (maybe you are one) who have doubts about their brokers. This is completely normal. They say: "Yes, if I put a stop then, my broker will see and he will manipulate the price".
So, if you're in a regulated broker, normally it should not happen. And if you see something weird, I advise you to take screenshots and ask your broker what happened (it's never happened to me but, you never know).
Meanwhile, it is not an excuse to not put Stops. "Not putting stops means potentially burning your account". So, I obviously don't wish that for you.
We talked about the lack of stops which for me, is obviously a heresy. Don't miss out the next article.
And Put Stops!