I can move to b/e as a rule, but depending on trade. I can move to b/e after 30 pip move in my favor or after 100 pips...Thinking behind moving to b/e is pretty simple and practical:
once you enter a trade and you're in green - it means the move in your direction began...if this is the case, 30-50 pip move can be the indication and confirmation. So we move to b/e. At that point you have already "secured" the trade, i.e risking nothing. I think its a shame to meet your stop loss after you were in green 30-50 pips....Now there are 3 options:
1. the market goes on in your direction without coming back to your entry poing
2. market comes back to your entry point, goes even lower (in case it was long)
3. "Kiss goodbye" - your position closed without going much lower and you stay out watching how it leaves you out of profits you could have had
Now the first rule trader should learn before making money on market is NOT TO LOOSE money. Afterwards we may talk about making money...
now lets go over those 1.2.3. points...
Well, in case its 1. - you're good.
2. If you entered and after 30-50 pip move the price comes back to your entry point, it may be going lower (talking about long position) and in that case, you're out where entered, you're much more free of emotions and you can make your judgment whether its worth reentering or not - maybe even at same level, maybe even higher, but you're better analyst when you're not in trade...
3. well, thats the way it works, but at least you didnt loose the money...so you passes the trade - no big deal...forex is full of opportunities...
About the trailing stops...I dont remember where, but I posted about it and I suggest you make a search for trailing stops. There are not many brokers offering trailings, and those who are - are not that reliable...so lets keep it manual trailing stops.
Trading without stops is madness, and as conservative as it may be, thats the only way I trade. I define stop and tgt before entering the market, and put both orders once I oner a trade...
hope this answers your Q.
Best Regards,
Rezo Shmertz.