Hanover - if you do you'll find there's a strange echo - I've been reading your posts for some time...
Turvey - Ouch! Time for a new broker surely? And yeah, I've done that spread calculation too... all mounts up.
Nology - Often it is a psychological crutch as you say - it echoes the nonsense of 'never let a winner turn into a loser'. I don't actually trade S/R any more but from memory, moves to b/e were actually more damaging than profitable, because there's every chance a level is tested again before kicking off. But there are strategies where you will increase your overall profits by moving to b/e; in short, where the probability definitely changes when price revisits the level.
Turvey - Ouch! Time for a new broker surely? And yeah, I've done that spread calculation too... all mounts up.
Nology - Often it is a psychological crutch as you say - it echoes the nonsense of 'never let a winner turn into a loser'. I don't actually trade S/R any more but from memory, moves to b/e were actually more damaging than profitable, because there's every chance a level is tested again before kicking off. But there are strategies where you will increase your overall profits by moving to b/e; in short, where the probability definitely changes when price revisits the level.