Let’s talk about StopLoss settings
I am learning and want to get into day trading. But I make the quintessential beginner’s mistake of shit risk management. I keep reading about “always set your stop loss” and “be strict about them”, “get out from a bad trade early”, etc. and was hoping to hear some real life opinions from people who have been doing this.
For example, I got DRAM late, and it’s down 10% but everything points that it will go back up. Had I stuck with the 5-7% I’d be out. Instead, I removed it because “everything says it will go back up” while it’s still going down. How do others manage a situation like this??? This is just one example. I’m also carrying fucking SOUN at -50% because that one has become a matter of stubbornness.
Any advise or simple setups you folks have?