[Soultrader]

I have hard stops hardwired in my head at all times. Its come to a point where I dont have to actually place a stop but I am automatically cutting losses super quick. Get into the habit of placing hard stops. Through experience you will be able to be more lenient with stop placement but until you are confident in yourself about taking losses, PUT THAT STOP IN! If it takes you out, great. It just saved your butt from more losses. If it stops you out and moves in your favor, work on entry precision and adjust stop placements. If your entries are well crafted, stops can be tight. If you are depended on confirmation of price action, you are going to take some heat. Determine how much heat you usually take and adjust your stops accordingly. Also, never walk away from an intraday open position. That was your number one mistake.