With many years of day trading experience, the developers of TheStopLossWave.com have come to the opinion that what hinders a better day for day traders is their not knowing where their stop loss should be placed. While there is no magic formula for correctly placing a stop loss, it doesn’t mean that a stop loss should be placed arbitrarily. We’ve all been there. We enter a trade and it goes against us but we hold on thinking the trade will end up profitable only to lose more before exiting. That said, a stop loss has many conditions that should be followed such as, capital risk, which is depended upon the day traders trading strategy and of course of their financial position to take such financial risks. A responsible day trader will never risk money that he or she cannot afford to lose.
Here at TheStopLossWave.com we provide many different options to help the day trader avoid losses but if you think that we or anyone else can provide a magic formula that provides a road to unlimited riches, we are not for you. Day trading must be treated as a full time job, not just turn on a “black box” and watch the money roll in. In fact, most day traders fail for various reasons, but, lack of seriousness is definitely a road to failure. Hence, we provide tools that will help the day trader, but, even with these tools the day trader must be diligent and responsible in order to reduce losses to their account.
One must remember that day trading entails future price speculation for a security or any financial instrument. Also, the day trader, known as a speculator, cannot rely solely on any one source of information to make a guaranteed buy or sell decision. In fact, no matter how many sources of information the day trader has, nothing is guaranteed when it comes to price speculation in any financial market. While day trading has become popular over the years, day trading might not be right for you or your financial situation at this time, which is okay. Demo accounts and paper trading is great way to get experience and develop strategies which we strongly suggest to be the first step for any serious day trader.
As you can see in our shop we offer many different types of tools. We tried to keep in mind the “average” day trader. Meaning we keep things simple. The products we sell are products that we would use. We will not sell a product we wouldn’t use on our own accounts. Our goal is not to make day traders rich. Our goal is to help reduce a day traders losses by various means if possible. By managing loses the day traders wins become larger wins respectively, and this is the over arching goal for TheStopLossWave.com.
With everything being said, remember life is to be enjoyed; money alone does not bring joy. God, family, and friends bring happiness. So, don’t ‘chase’ a bad trade, don’t let hindsight bring you down, and don’t trade with money you cannot lose. In short, don’t be a gambler. In sum, be happy.