Now if it's a small penny stock and you know how volatile they can be and you are actively day trading it but not for big money. You still want to buy at the right time make some money and get out.
You still don't want to lose more than around 10% on a day trade. Never much more
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Replying to @MasterBJones and @traderbjones
Do you always have 10% stop in on trades? Or are there some that you stick with even when they go down because you think they’ll eventually go up?