Golden rule for trading is:
Feed the stop loss order into the system immediately when the initial trade is made. This help to take away the emotionally driven subjectivity in analysis.
This will prevent any major capital erosion from the losses. As far as I have seen this is one of the best money management aspect in any trading. Before entering the trading itself one will know the maximum loss from that trade. If you are not comfortable with such a loss either reduce the quantity or skip that trade.
Feed the stop loss order into the system immediately when the initial trade is made. This help to take away the emotionally driven subjectivity in analysis.
This will prevent any major capital erosion from the losses. As far as I have seen this is one of the best money management aspect in any trading. Before entering the trading itself one will know the maximum loss from that trade. If you are not comfortable with such a loss either reduce the quantity or skip that trade.
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