Setting A Stop Loss - Must Knows For Profitable Trades!

Every trader must use a stop loss. Let's get that out of the way immediately, understanding the where, when and how of proper stop loss use comes only with experience. In this video we discuss where, when and how to properly use stop loss orders!******. Watch our Live Trading show, Monday to Friday from 9 am to Noon! https://www.youtube.com/tradertvlive

A stop loss is your last line of defense. Understanding where to place a stop order comes down to The price at which you concede you are no longer on the right side of the trade and need to cut your losses before they get out of hand. Identifying those key levels becomes easier with time, whether you use a set "risk" based stop loss or you look for a structured area on higher time frames to place your stop above/below for a trader to have long-term success we all must be able to stop out of a trade. Join us as we discuss the ins and outs of stop loss orders and aim to give you a better understanding of how and when to use them in your trading.

⏳ Outline:
0:00 Intro
0:50 Why do we need to use stop loss orders?
2:30 When you're wrong you're wrong
4:01 Understand and be comfortable with your platform and order types
4:45 If this, then do this!
6:30 Stick to your rules
7:20 Stop areas vs. a line in the sand
9:25 Using stops to get in to a trade
11:25 Summary
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Видео Setting A Stop Loss - Must Knows For Profitable Trades! канала Market Wisdom by TraderTV Live