If I had a nickel for every time a trader e-mailed me about losing large sums of money and not having a stop-loss exit in place—well, //I’d have a lot of nickels! In any event, //sometimes it isn’t that an individual doesn’t know they need a stop-loss exit in place; //instead it’s that they don’t know how to effectively choose one. Or, they choose one and then don’t adhere to it for psychological reasons (see Part One).