Some important elements to your stock trading plan are the stop-loss (S/L) and take-profit (T/P) points. A successful stock trader will have planned what price they are willing to pay and sell at. If you don’t know these points it wouldn’t be prudent to invest.
The point at which a trader will sell a stock and take a loss on the trade is called a stop-loss (S/L). Conversely, the price at which a trader will sell a stock and take a profit on the trade is called the take-profit (T/P) point.
If you don’t stick to these points in trading then in most cases you are rolling the dice and hoping for a good outcome. Be a successful trader and establish your S/L and T/P points then follow them. You will be a better trader for it!
Do you stick to your S/L and T/P points? If so, click the like button.