While it is not mandatory to have a stop loss on your simulated trades, we strongly recommend implementing one as a crucial component of effective risk management in the simulated trading environment.
A stop loss serves as a safeguard against potential simulated losses beyond a specific amount by automatically closing a simulated position
when it reaches a specified price level.
A stop loss provides you with a predefined exit point, helping to prevent substantial simulated losses and allowing you to maintain greater control over your simulated risk exposure. While it ultimately remains your decision whether to utilize a stop loss or not, we highly encourage its use as a responsible risk management practice in simulated trading.
Incorporating a stop loss can contribute to a more disciplined and structured approach to simulated trading.
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