A trading strategy is a set of rules that determines as precisely as possible what course of action should be taken in certain market situations.

Stop loss plays an important role in risk management. Your stop loss is designed to allow you to set the predefined maximum amount of loss.

The essence of risk management is that the trader determines the level of risk he/she is willing to take and tries to minimize the possibility of loss.

Becoming a successful trader requires a combination of knowledge, discipline, and the ability to manage risk effectively.