Should I move my stop loss or just leave it where I initially placed it? This is the dilemma. While we are on a trade and the market moves on our favor, this question always arises.
And let me tell you something, there is no right or wrong answer, but the way we approach the market will tell us which one is better for each one of us.
To find the answer to this question, I want you to imagine these scenarios:
- You open a trade, the market moves on your favor, you decide to move your stop loss level, the market reverses and hits your new stop loss level and it continues against you, this is, if you didn’t move your stop loss level, the market