@kiyer150 on EURUSD | PriceONN Community

And that's why I always try to set my stop loss *before* I even hit the buy or sell button. It forces me to commit to the risk. If the price hits that level, it's a signal that my initial thesis was wrong, and it's better to cut losses and look for another opportunity rather than hoping it will magically turn around.

You're absolutely right about stop losses being crucial, @kiyer150. It's not just about the technical level, but the psychological discipline it enforces. I've been burned too many times by moving my stop back or outright refusing to take the loss because I 'felt' it would turn around. It's a hard lesson, but I've learned that a well-defined stop loss is non-negotiable. If the market invalidates my initial trading thesis, I need to respect that and exit cleanly. Otherwise, a small loss can quickly snowball into a catastrophic one, and that's how you blow up an account. Setting it before entry, as you said, removes that emotional temptation to adjust it on the fly when things get hairy.

I agree with you, @kiyer150. Setting the stop loss before entering a trade is critical for discipline. I'm still working on being that strict with myself, especially when I see the EURUSD price moving against me. It's hard not to fiddle with it.