Quote:
Originally Posted by Starkler
Big mistake! Pretty much any time I have moved a stop loss back I have just lost more money when it got hit. If you're going to move it in real time to avoid having it hit then you are ignoring the reason for having it in the first place. A losing trade is a losing trade and needs to be cut loose.
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Yes all the trading books in my library say the same , guess its hard to take the loss when emotions say fight for it .
I did take the hit today on 4 contracts that I rolled overnight Ouch "
Went back in again long , have set trailing stops nice & wide .
Should have been scalping but to lazy to concentrate .
Cheers Bobby.