3 Tips for Stop Losses

“Give the market time to prove you right” – is the main message of this video. Traders often manage to predict the market but don’t have the patience or the technical skills to place their stop loss at the right level. David gives the three most vital tips for placing stop loss levels and the challenges that traders have at the different points of the decision making process.

This is both a technical and psychological skill that involves different components. Deciding whether to have tight stop loss level when the position is opened, determining whether it has to be placed by looking at the value of the potential loss are all discussed by David as he walks you through a real example with the EUR/USD.

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