Alright. And finally I do not have access to automated stop loss facility. If my stop loss level is touched intraday should I exit immediately? Okay, so just imagine this. If you have automated stop loss, it means that intraday, if it touches your stop loss level the automated stop loss we’ll get you out intraday, right? So again, same thing. If intraday, let’s say you don’t have access to automated stop loss, but you set an alert.
And if you received that alert, tells you that oh, your stop loss has been touched, the best thing is just to get out immediately from there, okay? And this is what I personally think is a form of best practices. And naturally, you will say that, wow, I have a lot of my trades are getting touched intraday and I will stop out and I had to exit them. And I have a lot of losing trades as a result. And if that’s the case, most likely it’s because you set your stop loss too close to your entry price.
And that is probably the reason why you very often get stopped out very quickly after you enter the trade, okay? So you might want to look and analyze your charts again to see if your stop losses trade too close to the entry price. You might want to move it further away.
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