What is a Stop Loss?
A Stop Loss is a set price at which we will no longer be willing to hold onto the stock and wish to immediately liquidate our position i.e. sell the stock. Its purpose is EXACTLY what it says – to STOP LOSSES.
Every time we enter a trade, at the end of the day the trade is filled, we must set our stop loss as soon as we can. The DPR software will always tell you what the stop loss price should be.
The stop loss is there to give you peace of mind while you go about your daily life so that if there is a point at which, if the trade is not going your way you will automatically be sold out of the trade.
There is no amount of emphasis that we can put on this to make it important enough. Remember 2008? People lost their shirts because they had no stop losses. Don’t ever let that be you.
This topic and others are covered in detail at our training course Stock Market Success which is free to attend for DPR subscribers. Please contact us to obtain a promo code or you can email us at firstname.lastname@example.org. To view a list of or register for an upcoming training course, please visit the URL: http://tinyurl.com/hditsreg