DislikedThis chart got me thinking yesterday.
At which point do you guys think moving the stop to B/E is best?
Because if you notice in this chart, the bar around 9:00 on the 13th (the pin) looks like it would have taken you out at B/E if the stop had been moved.
(The first pin with the check mark would've hit the SL as well if it was moved to BE. Price had already moved up about 70 pips before that)
What are your thoughts?
Just kidding moneybags.
That's one of the problems of moving to breakeven, while you reduce your risk you also reduce your profit potiental.
I believe Peter wouldn't mind accepting many trades where his stop loss is hit many times when it cost him nothing. This is what I learn from this trade.
Indicators show the past. Price Action "Indicates" the future.