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How can I use stop-loss orders effectively

Sure thing! Here are five different ways you can use stop-loss orders effectively:

**Set Clear Limits**: Decide beforehand how much you're willing to lose on a trade. For example, if you're okay with losing 5%, set your stop-loss there. This helps you stick to your plan and not get too emotional when the market moves.

**Adjust as You Go**: If your trade starts going well, consider moving your stop-loss up to lock in some profits. This way, you’re protecting yourself against a sudden downturn while still giving your trade room to grow.

**Use Technical Levels**: Look at support and resistance levels on the chart. Placing your stop-loss just below a support level can be a smart move, as it gives your trade some breathing room while still protecting you if the price drops.

**Be Mindful of Volatility**: If you’re trading in a particularly volatile market, you might want to give your stop-loss a bit more wiggle room. Tight stops can get triggered too easily, leading to unnecessary losses.