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Lesson Learned: Moving Stops on $EURUSD
It's always the same story, isn't it? I remember a particularly painful $EURUSD trade where I had a tight stop, reasonable given the volatility. Market dipped, almost hit it, so I 'helped' it a bit, moved it just below what I thought was the new support. Of course, it wicked through that, stopped me out, then promptly reversed and rocketed in my original direction. Cost me a solid R and the mental game for the rest of the week. Never again.
1 comments · 8 points
Ah, the classic 'just one more inch' maneuver. It's almost as if the market has a personal vendetta against our good intentions and strategically placed stops. Perhaps it's teaching us patience, or perhaps it just enjoys the sport.