yes, of course. Especially it's important to know to place it not too close, because it would be very hurtfully to understand that you had chance to get more profit and lost this chance because of fear)While I have stated more than once that I am very much for using stop loss as often as possible, I also want to point that one also has to know how to use it effectively. If you place it too close or too far that too can lead to losses.
I don't recommend trading without a stop loss, any sudden more can cause huge loss to your account. So a safety measure like stop loss should definitely be placed in your every trade.
I don't know if people mentioned it but anyways, you should never trade without stop:
1) you will be aware of your loss
2)it saves your account from blowing up
3)if pending orders are not that important then why are they so many articles covering the topics.
honestly out of every 3 articles on this website, one is a scam alert, second is about STOP LOSS and the third one *insert topic here*
We need proper analysis here and also keep discipline with proper money management and risk management, because if we trade without stop loss one mistake can causing big loss in single tradesWe should try to reduce the amounts of losses we are getting in our trading. We can certainly use many combination of such trading systems that will help us reduce the overall losses
We need proper analysis here and also keep discipline with proper money management and risk management, because if we trade without stop loss one mistake can causing big loss in single trades