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A Comprehensive Guide to Using a Stop Loss: Empowering Your Trading Strategy

A Comprehensive Guide to Using a Stop Loss: Empowering Your Trading Strategy
In your journey as a trader, you probably use a stop loss as a routine component of every trade. If you don't, you should consider using them because it's a critical tool that can make a significant difference in your trading outcomes. This comprehensive guide aims to provide an engaging and educational overview of a stop loss, potential benefits, types, and how to use it effectively amidst varying market conditions.

But before we dig any deeper you must know that a stop loss is not always guaranteed to get executed and most traders don't realize this.

This is What I'm Binge Watching this Weekend

This is What I'm Binge Watching this Weekend
I don't watch much TV, I'm not much of a movie person and when I do watch something I typically won't watch it more than once (but yeah I've seen the classics like the original Top Gun and the new one multiple times), I'm not a "gamer" however I would consider myself a binge watcher...

What I Like to Binge Watch:
  • Billions (the hit series on Showtime)
  • Shark Tank
  • Blue Bloods (my dad is a retired police officer)
  • Trading Education Courses...

Yes, Trading Education Courses!

See which ones...

Align Actions to Trading Goals and Focus on Process Rather than Outcome

Get Free Instant Access to Price Action Trading Courses

If you're looking to grow a small account, seriously supplement your income, or perhaps leave your day job behind then get on board with these FREE tips,  strategies, and courses that could boost your trading performance!

Join over 25,000+ other traders who are using ChartPros as an important part of their trading process.

How to Know When to Enter a Trade

How to Know When to Enter a Trade
A frequently asked question I routinely get is “Tom, when you have multiple levels of support/resistance, trend, or fibs how do you know which is the best level to use to get into a trade?”

The simple answer is I don’t. Nor, with any certainty does, anyone else.

“So what do you do” becomes the follow up question.

Become a Certified Price Action Trader in 90 Days!

Become a Certified Price Action Trader in 90 Days!
ChartPros announced that it is accepting new traders for its Market Mastery Trading Bootcamp but is anticipating the program to "sell out" because enrollment is limited to the first 25 traders who sign up.

This is a “blended learning” program meaning that there are both self-paced and expert led sessions so traders gain immediate access to the eLearning component upon acceptance.

The Top Reasons Why Traders Fail and How to Overcome Common Pitfalls with Effective Trading Rules

The Top Reasons Why Traders Fail and How to Overcome Common Pitfalls with Effective Trading Rules

This article delves deep into the top reasons why traders fail and how you can overcome these challenges by focusing on your trading process of implementing trading rules, plans, and trading psychology rather than focusing on the outcomes of profits.

See how!

Technical Analysis or News?

Technical Analysis or News?

There's been a long running debate between the technical analysis chartists and the fundamentalists and both sides can make their case for being "right".  Both sides often think that their way is best and the other side is full of you know what...

Since no one can predict the future how did the recent job news data on Friday just two days after the FOMC announcement "cause" the markets to erase all those gains?

Which side are you on? Get the "inside scoop!"

Over 250 Featured Chart of the Day Posts and Counting!

Over 250 Featured Chart of the Day Posts and Counting!
Did you know that since May 2023 we've featured and posted more than 250 "Chart of the Day" higher time frame charts for FREE? Most on monthly/weekly with many that could be approaching levels of interest very soon!

Get Insights like the 25,000+ traders who have benefited from ChartPros market education offerings!

What is a "Black Swan Event" and How the Next One Could Shake the Financial World (again)

What is a "Black Swan Event" and How the Next One Could Shake the Financial World (again)
What an eventful week in the world we live in...
 
Assassination attempt on Trump, global IT outage, Biden drops out, what could possibly be next?

The term "Black Swan" denotes an unexpected financial crisis with profound consequences, merging extreme rarity with a significant impact on stock markets and risk management.

It’s often stated that “history repeats itself.”

Get the inside scoop on how to plan for the best but prepare for the worst.

What's Your Trading Setup Look Like?

What's Your Trading Setup Look Like?

I often think about and wonder what and how technology could have reshaped our present lives if it existed centuries ago.  Along those lines, I wonder what sort of setup Jesus might have had if He used a computer. 

One of the most frequently asked questions I get is “Tom, what computer do you trade from and how many monitors do you have setup?”

My answer surprises most people and may surprise you as well...

All Time Highs - to trade or not trade webinar replay

All Time Highs - to trade or not trade webinar replay

Learn the top strategies for trading all time highs and managing risk.

Many equities and indexes are at or near their tops. Trading all time highs (ATH) can be a risky proposition because there is less historical data available at these levels.

Join ChartPros for this informative and potentially money making/saving FREE webinar replay to help boost your trading confidence, consistency, and trading results.

How Many 4th of July's Does this Make it For You?

How Many 4th of July's Does this Make it For You?

It was 4th of July, 1976 when I was 11 ½ years old and I can still vividly remember all the fuss and excitement about our country’s 200th birthday – the bicentennial.

Come with me for a stroll down memory lane...

Have a happy and safe holiday.

God Bless the USA!