Understanding trading through a story.

A prostitute goes to the PC and often tips the prostitute. PC payment, in itself, is a matter of course. But the prostitute thinks that the prostitute is very generous, so she likes to play with the prostitute, even if the prostitute occasionally owes the debt, she is willing, because most of the time the prostitute has paid the arrears, maybe there will be an unexpected surprise to the prostitute, and the prostitute thinks that the prostitute is too good.

The ultimate goal of prostitutes is to prostitute for nothing, and it is best to get money for nothing after prostituting their feelings. Generally speaking, the more familiar the prostitutes are with their clients, the more likely they are to be prostituted.

In the end, there was another time when the client failed to pay his debts, but the prostitute still foolishly waited for a kind-hearted client, looking at him with hope. But this time, the client was so heartless! He kept accumulating more and more debts and never turned back after owing them! The hard-earned money that the prostitute painstakingly saved was all cheated away by the client at once, and it was not enough!

The nature of a john is that he is a fraud and will never change. He only pays money to deceive prostitutes even more! And the market is just this john.

Used in trading:

People who trade without setting stop loss are like those with prostitute mentality - every time they hold onto losing orders waiting to break even, it's like saying to a client who owes money: "Sir, please come and indulge me."

These people are often freeloading, holding onto losing orders for a long time, and may Rug Pull just after breaking even. Making orders seems to have a high winning rate, but they just don't make money. Generally, they make some profit and then run away, and they hold onto losses. They may lose all the money they earned for a long time in just one order, which is not enough.

Wall Street adage: The initial stop loss is the cheapest.
When trading, you must have a stop loss, because we don't know when the market will not return. We cannot gamble on this. This is a bankrupt approach. It may not happen often, but once is enough to suffer. And I can say for sure: if you don't set a stop loss, you will eventually encounter a market that will never come back. It's just a matter of time.

No one is 100% correct, stop loss is a crucial part of successful trading, and trading without stop loss is considered unsuccessful.
Taking limited risk is the foundation of a trader's existence. Traders who don't use stop loss are not prepared to take risks. Do you think they can be successful, let alone become experts?