Hello.
Do you tend to secure your trades by moving Stop loss to break even after the trade moves in your favor a little?
So many times, the trades don't have the steam to reach my goal and reverse on me in the middle of the way, Securing them by moving SL to a few pips over entry helped me to avoid a good amount of losses.
On the other hand, price might retrace slightly and hit your sl before moving towards your goal again, however I believe you can't blow your account if you don't lose
What methods do you use to determine when and where to move your stop loss to?
Do you tend to secure your trades by moving Stop loss to break even after the trade moves in your favor a little?
So many times, the trades don't have the steam to reach my goal and reverse on me in the middle of the way, Securing them by moving SL to a few pips over entry helped me to avoid a good amount of losses.
On the other hand, price might retrace slightly and hit your sl before moving towards your goal again, however I believe you can't blow your account if you don't lose
What methods do you use to determine when and where to move your stop loss to?