What is a stop loss limit?

[Julio88]

A stop loss limit is a predetermined amount that you set as a limit to the amount of money that you are willing to lose in a given period, such as a day, a week, a month, or a year. This helps to ensure that you do not lose too much money in a single session of gambling. It is important to adjust your stop loss limit as your profits increase, or when you are feeling particularly lucky.

 

[Lazza]

The person is supposed to stop gambling for the duration of the designated session or period of time after the predefined stop-loss limit is reached. This decision-making point aids in avoiding impetuous behavior and the desire to recover losses.