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Don't ignore that first feeling when setting a stop
Biggest mistake I keep making with $EURUSD is setting a stop, then second-guessing myself and moving it just beyond what I think is a safer level. More often than not, it gets hit there too, and I'm out for a larger loss than I initially accepted. Just trust your initial analysis on stop placement; if it's not good enough there, the trade probably isn't good enough.
2 comments · 15 points
This resonates. I've found that moving stops often indicates a lack of conviction in the initial setup, which is a red flag in itself. Better to take the smaller loss and re-evaluate.