In my yesterday’s post (Myth: Grid Trading will Blow Up Your Account) I said that having a no Stoploss is a big red flag. Yes, it is. You should always use a Stoploss. Always. And not just with Grid Trading, but with any trading system.  You see a trading system with no Stoploss, you’d better stay away from it. Such a system is most probably a scam. Why? Because the Stoploss is there to protect you. It is there to limit your loss in case the market goes against you. It allows you to “cut your losses short”. The Stoploss is often a crucial part of your risk management too. It should definitely not be the only thing there, it should not be all you do to limit your risk, but it is still extremely important. Throughout the Grid Trading Course we often point out that you should use a Stoploss in all cases. Our GRIDAlgo EA also offers several different types of Stoploss. And we show examples with each and every one of them too…

So I don’t know how to emphasize this more.  But let me say it one more time – ALWAYS use a Stoploss. With any trading system, during any trading session. Always. Don’t even think about trading without it.  This is one of the “big” secrets to be profitable in the long term. And it works. So, use it. Please.