Sell Stop Order

Any trader, no matter how good  their discipline is, should be using stop  orders.  It will definitely help you  act in your own best interest more often than not.

Whenever initiating a position, always  make sure to have a stop order in to protect yourself.  All off-the-floor traders should also use stop orders to protect themselves and their open positions.  You  don’t want to end up like the stock market traders who’ve failed to use  a stop order and then lost 20-25% of their account in a single trade  with only one contract (in the S&P 500 Futures).