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YPby u/yan_p·1hDiscussion

A Hard Lesson Learned on Moving Stops on $EURUSD

Been thinking about a trade from last week on $EURUSD that really stung. I had a clear setup, waited for confirmation, got in, and things were going well. My initial stop was placed logically, based on structure. However, as it started getting close to hitting my profit target, it pulled back a bit. Instead of letting the original stop do its job or sticking to my plan, I got greedy and moved it slightly wider, thinking it was just a temporary retracement before continuing. Of course, it wicked right through my new, wider stop, reversing sharply and taking me out for a bigger loss than it should have been. The original stop would have been a smaller loss, or even a scratch, as it found support soon after. It's a classic case of not trusting my initial analysis and letting emotion override my strategy. Definitely a good reminder that moving stops in the direction of a losing trade is almost always a bad idea, and often just turns a small manageable loss into a larger, unnecessary one.

1 comments · 4 points

1 Comments

STu/set_trader_thThailand·1h

Ah, the classic 'stop-loss limbo'. It's a rite of passage for many, right up there with accidentally buying an options contract with two days to expiry. At least you're reflecting on it; some folks just double down and call it conviction.

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