Some traders would rather lose money than admit their analysis was wrong. They move their stop loss, defend their bias, and keep waiting for price to turn. The market doesn’t reward your stubbornness. You can be wrong and still be a good trader.

My first trading experience taught me an expensive lesson😂😭 I lost over $500 because I didn’t know what a stop loss was Let me gist you The first time I traded was on Binance. I was just scrolling through the app when I came across Futures I saw Rose usdt Perpetual and decided to try it. I didn’t know anything about futures trading. I didn’t know risk management and I definitely didn’t know what a stop loss was. In my head, trading was like buying land. You buy it, leave it, and come back years later when the value has increased So I entered the trade, and at some point, I was already in about $700 profit I was so excited I started thinking, if this thing can give me $700 in one hour, imagine how much I’ll make if I leave it for one year😭 So I left the trade open and went to bed. Around 2 a.m., I woke up and checked my phone. I saw a Binance notification saying my position was about to be liquidated Do you know what I did? I didn’t even know what liquidation meant. I thought maybe it meant the money was becoming too much or something😂 I ignored the warning and went back to sleep When I woke up in the morning, my money was gone. I had lost over $500. That was how I learned about stop loss the hard way These days, before I enter any trade, I already know where my stop loss is going to be. I don’t just enter a trade and hope the market keeps going in my favour. Because I’ve learned that being in profit doesn’t mean you can’t lose that money. And honestly, I wish I had understood that before I started trading. If you’re new to trading, please learn risk management before you start risking your money. The market can teach you a lot, but you don’t have to pay for every lesson with your own money