A stop-loss should be used on every single swing-trade and day-trade that you make. No excuses. Stop-losses are absolutely the best and most simple way for preventing massive losses – well, that and not playing earnings or some major FDA announcement on penny stock biotech company. The point is, if you are going to trade stocks, you have to expect to have losing trades, and as a result, you have to know how you are going to manage those losing trades.A stop-loss should be used on every single swing-trade and day-trade that you make. No excuses. Stop-losses are absolutely the best and most simple way for preventing massive losses – well, that and not playing earnings or some major FDA announcement on penny stock biotech company. The point is, if you are going to trade stocks, you have to expect to have losing trades, and as a result, you have to know how you are going to manage those losing trades.
In this podcast I cover:
- What are stop-losses
- The goal of stop-losses
- Why people don’t use them
- How it keeps you in the game
- Everyone likes stop-losses until they are executed
- How a stop-loss stopped me from having one of my best trades ever
- Don’t Fear stop-losses
