Stop loss is a risk management tool used in trading to limit potential losses. It is a predetermined level at which a trade will be automatically closed out to prevent further loss. Always using a stop loss is a best practice in trading as it helps to protect traders from large losses and helps to manage risk. It is important to set a realistic stop loss level based on the volatility of the asset and the trader's risk tolerance. Traders should also regularly review and adjust their stop loss levels as market conditions change. Overall, stop loss is a crucial tool for any trader to have in their toolbox.

Always using a stop loss is a fundamental risk management strategy in forex. It protects your capital by automatically closing a trade when the market moves against you beyond a set limit. Without a stop loss, emotions like fear and greed can lead to holding losing positions for too long, increasing losses. A well-placed stop loss helps traders maintain discipline, manage risk, and preserve their accounts for long-term success. It also allows for better risk-reward planning by defining potential losses before entering a trade. However, placing it too tight can lead to premature exits, while setting it too wide may increase risk. Properly using stop losses enhances consistency, minimizes emotional trading, and helps traders stay in the game.