Often, I see traders quickly shifting their stops to breakeven.
They assume it will give them a risk free trade.
But is this really true?
In this video post, I’ll share my thoughts on it. And explain why setting your trades to break even, could actually worsen your trading performance.
I hope you’ve enjoyed this video post. As always, comments are welcomed and encouraged. Cheers!
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Great Sharing
Thanks Tet Soon! 🙂
Good video. A trader always has to keep in mind to move SL to BE based on what he sees in the market, not in his P&L.
Hi Vlad,
Thanks for stopping by 🙂
Rayner
I would say setting stop loss to break-even is a more complex issue to think about as there are many ways to approach the markets.
Hi Li,
Yes I would agree with it.
It’s more than just trailing your stops based on how a trader is feeling at the moment.
Rayner
I’ve experienced with this scenario many times in the past as we were taught that way
to protect our money. There are many types of saying but what you have explained sound
logical to me and it make sense. Brilliant! Stick to the initial set up plan and be disciplined.
thanks again for your sharing. Like it!
Hello Steven,
Thanks for reaching out. I’m glad to know it has helped you.
I’m looking forward to hearing more from you in the near future 🙂
Rayner
good sharing…
” Exiting your trade position at the perfect time is one of the hardest things to master”
Hey Farhan,
Yes exiting trades is a more complex issue compared to entry.
That’s why your exits are far more important than entries.
You’ve got to decide where to exit when you’re wrong, and when to exit when you’re right.
Rayner
Hi Rayner,
In my earlier days in trading , I used to do this mistake in a similar way, buying in resistance and selling in support, because I was expecting for breaking. In this video, the logical error is explained very well.
Thank you Rayner!
Shlomi
Hey Shlomi,
I’m glad you found a way to improve your trading.
Cheers!
Rayner