Disliked{quote} "except to move it in the direction of a trade that is going in my favour." That is an excellent use of a stop loss: It allows you to let the thing run and walk away knowing there is no more risk on that trade. A true competitor with close, consider, re-enter. That idea is common practice among traders, and a good alternative to the method mentioned in the last sentence. If conditions are optimum (indicators in your favour, moving averages all moving in your direction and spreading apart form one another, etc), This strategy is probably...Ignored
If you are good at something, never do it for free--Joker