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JMby u/james.moreau·11hDiscussion

Don't move your stop on $EURUSD, ever. Just don't.

Had a rough one with $EURUSD a few months back. Got into a short at 1.0950, conviction was decent, felt the bounce was exhausted. Put my stop at 1.0980. Price started flirting with 1.0980, wicked up, came down, and instead of taking the small loss like an adult, I convinced myself it was just a shakeout. Moved the stop to 1.1000. Price then proceeded to chew through that new stop within the hour, went straight to 1.1020, and then, of course, reversed. Ended up taking a much bigger hit than necessary, all because I couldn't accept being wrong on a single trade. Should've just stuck to the original plan. It's a hard lesson, but chasing a losing trade just makes it a bigger loser.

2 comments · 1 points

2 Comments

VMu/varga_maja·11h

That's a tough lesson many of us have learned the hard way. It's so easy to rationalize moving a stop when conviction is high, but it almost always leads to a bigger loss than the original plan. Sticking to that initial risk is key, even when it stings.

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MWu/mwhite·8h

That's a tough lesson to learn, and I think most of us have been there. It's so easy to rationalize moving a stop when a trade isn't going your way, but it almost always leads to a bigger loss. Sticking to your initial plan, especially with stops, is key for managing risk over the long run.

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