In my experience when a trader makes a decision they should try and stick with it. That is not to say that they should be bullheaded in the face of overwhelming evidence that they are wrong, but being decisive and consistent proves to be very beneficial in the long run. It’s a fine line to toe.
Well said!
That is interesting what Joseph Nemeth says on Youtube about Stop Loss (he does not use it)
I generally don’t use a stop loss either. I prefer to use trailing stops especially when I’m sleeping.
I don’t use stop loss either.
For me it is like committing harakiri. Suicidal.
Unless I am positive about the trend, I do not place orders.
Otherwise I just wait on the sidelines, just watching.
Do you leave your computer when you have open no stop loss trades?
Very bold newbies here. Trade in, working against me, no stop loss, not even a catastrophic image. Suddenly, out of nowhere, some big shot analyst, half way round the globe, announces his expertise that inflation will be 0…currencies move faster than you can pee…surprise! Think again.
Tim
Moving stop loss is good if you are locking profit but moving stop loss to a more wider spot so that it won’t get hit is not a good practice.