Using a stop loss or take profit is entirely optional and depends on your strategy.
A Stop-Loss order is a valuable risk management tool designed to limit potential losses by automatically closing a trade when the price reaches a predetermined level. Whether or not to use this feature depends entirely on a trader’s personal strategy and risk tolerance.
Traders who implement stop losses tend to achieve greater long-term success compared to those who don’t. Therefore, we strongly recommend incorporating stop losses into your trading approach.
