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.