Requesting advice on how to stop moving my stop loss order?

Moving a stop is not a "mistake". A mistake is going short when you meant to go long. Moving stops is a result of lack of discipline, it is poor behavior and had to be eradicated before you go broke.
 
Moving stops to hope for a turn around is trading like an amateur. Stop trading until you fix this. You are having a bigger problem than you realise.
 
Gotcha said:
It sounds to me like this 84% win rate is only because he keeps moving his stop loss. If it wasn't for the big selloff, the market might have reversed and he might have gotten out BE or with a profit, thereby reinforcing this action.

The question to ask is what would his win rate be if he always kept to his 4 point stop. Perhaps the win rate drops drastically. We all know that a 90% win rate of 1 point with a 10% chance of a 10 point stop out is not profitable. Something similar might be going on here.
More...
Very true.Moving your stop will work a large % of the time if you are in a range bound market and your moving the stop to slightly outside the range if it was inside the range before.The problem arises when the breakout was real and the market trends ..then you lose big.
 
What is the largest one day drop or rise in the ES over the last "period of long time"?

ES

monee said:
Very true.Moving your stop will work a large % of the time if you are in a range bound market and your moving the stop to slightly outside the range if it was inside the range before.The problem arises when the breakout was real and the market trends ..then you lose big.
More...
 
David M21 said:
What do traders do to mentally prevent themselves from making this mistake of moving their stop loss order? Any advice would be appreciated.
More...

You realize don't you that you're asking the board, "how do I make myself do the right thing"?

Doubt any of us have an answer.
 
You must log in or register to reply here.
Back
Top