The stop loss is "if I walk away and don't pay attention and price goes mental" I usually exit manually if I'm wrong otherwise.
Not really. As I said, my stop loss is for when I'm not paying attention. And I'm not trying to stop a loss when I exit, I'm just acknowledging the trade is not going the way I want.
if you make a profit yet break your rules, you are a loser. If you take a loss and do so according to your plan, you are a winner. Taking a loss is never easy, but it becomes easier the more you do it right. Taking a loss is like asking a woman out and getting turned down. Yes, it doesn't feel right, and yes you feel a bit humiliated, but the more often you do, the easier it becomes. If you are in a losing trade and yet refuse to take the loss, it doesn't make your trade a winner. The trade is already a loser. You just haven't accepted it yet. Reversals are a part of trading. Unexpected market action is a part of trading. Never assume anything in trading. Anything can happen. Take nothing for granted. In trading, the only truth is price. The market doesn't care about your feelings. The market does not even know you exist. There is no god that will save you from trading errors. There is no trading system or indicator that will rescue you from the unpleasant feeling of losing money in a trade. To quote from an Aaron Neville song, when it comes to trading, everybody plays the fool. There is no exception to the rule.
I use stop loss as a way to minimise my trades because when I am taking a break from trading, I can be certain that the trade will automatically close if it doesn’t go in the expected direction.
Regardless of what name you give it, it protects your capital. You can't win if you don't play and you can't play without capital.
%% Good names=CPE or business expence=capital protectors. I just found out in my insurance contract/ a demo derby voids my insurance contract