Don here.
Let me ask you something. Do you trust your stop-loss order?
Most traders do. They set it, they walk away, they figure they're covered no matter what happens.
Here's the problem. A stop-loss is not a guarantee. On a fast moving day, in a low liquidity name, your order can trigger and fill way past where you expected. You think you're out at a small loss. You're actually out at a much bigger one.
I put this exact scenario in my free checklist, The 60-Second Pre-Trade Checklist, along with four other checks that take less time than pouring your morning coffee.
This isn't complicated stuff. It's five quick questions you ask yourself before you ever place the trade. That's it.
Download it here and start running it before your next entry.
It's free, no credit card needed.
To Your Success,
Don Kaufman
Chief Strategist, TheoTRADE