How to be okay with taking a Stop Loss?

I detest SL’s but 99.9% I have a hard SL in place upon at entry or immediately thereafter.

 

The only good thing about SL’s is they show you that your judgement on Market direction may be off (providing it was a properly placed SL) and thus they often point you in the correct direction, for doubling or tripling up in size. They can serve to get you “back on track” with the market flow.

 

The only good thing about SL’s is they protect you from yourself.

 

The only good thing about SL’s they can keep you solvent for more trading opportunities.

 

Nevertheless, I still detest them, but I use them.

 

OTO orders are all I use, since they automate stops

 

Probably shouldn't be called a stop loss as it doesn't stop a loss. Perhaps it should be called a quick loss. I like to refer to it as a capital protection exit.

 

Roflmao. I love it! Quick loss! Never has a truer truth been written in the annals of ET.

 

Old Fram Oil Filter commercial - "you can pay me now or pay me later".

Now is so so much better.

 

Stop-loss is one great feature to manage the risk, it will depend on our trading setup, I like to use stop loss when trading in one direction, my trading strategy is looking at a reversal pattern, so use tight stop loss and higher target.