Lesson Learned: The Peril of Moving My Stop on $EURUSD

Hey everyone, just joined. Been in the game for about five years, mostly active in FX. My biggest lesson, and one that cost me a good chunk of change early on, was moving my stop-loss on an $EURUSD short. I saw a brief bounce, thought it was just a shakeout before the real move down, and nudged my stop just a little higher, convinced I was being smart. Naturally, it wicked right up to that new stop and then some, completely blowing through my initial risk parameters and turning a manageable loss into a significantly larger hit. Lesson learned: define your risk and stick to it; don't negotiate with the market once your trade is live.