Set a stop-loss
A stop-loss is an order that closes your trade automatically if the price reaches a level you chose. You pick that level before you enter, while you are calm, so a losing trade can't turn into a disaster while you hope it comes back.
1.Put it where your idea is wrong
Buying because the price is stepping up? Then a break below the last swing low means you were wrong. Place the stop just beyond that low, not a random 1% away.
2.Size the trade from the stop
Distance to the stop × units = what you lose if it hits. If that number is too big, buy fewer units; don't move the stop closer.
3.Never widen it
Moving a stop further away once the trade goes against you is how small losses become the one loss that ends a race. In Market Racers, on 10× leverage, a 10% move against your whole account wipes it.
Practice race · Race, unrated
Close at least one trade with a stop-loss attached.
Start the practice race