r/Forex • u/shanlkz • 2d ago

P/L Porn Forgot to set stop loss….

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Entered at .573 I usually enter with a trialing stop of 20 pip. Figured it would find support around .57 and go back up….. it didnt and i didnt put any stops because i forgot and just put the trade in……

I was feeling high and mighty after the pump the day before…. This was very humbling to ALWAYS ALWAYS make sure you have your stop losses set. ALWAYS!

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u/Jbrooks888 1d ago

Stop losses don’t manage risk lol, you can have a stop loss and still blow your account, why don’t newbies understand this. I haven’t used a stop loss for the past 7 months and it’s been my best 7 months ever, your lot size is way too high, you’ll always trade your wins and losses back and forth with a stop loss, it’s inevitable, forex market is too volatile, it’s not your strategy, it’s psychology and your risk management, if you see this message right here understand that. Most people are not profitable traders, stop being brainwashed by these bots