i can not be considered as a successfull trader but i know a few thing that you need to do to cut your losses.
first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.
first you must have your own strategy,and put your position.
after you put your position,do not forget to use stop-loss order.
why ? because it's a tool to help you minimize the loss,insert your target into your stop-loss order and wait for it.
if the price goes down to below your level,the order will be executed.
Stop loss order is very risky, you can end up with a bigger loss. For me the best way to cut losses is not selling or not doing panic selling. You should know the price you will sell if things go bad.
