Thanks. So it seems that "break even" can be either a zero P/L gain, or
moving your stop to your average entrance price, which, in the latter case, could still leave a profit depending on how many contracts you have left.
> Good technique in trading that I found is to constantly toggle your bids/offers as you get more right/wrong.
This is the dynamic nature of trading that makes it really difficult. But also its what the best traders are doing because they are not simply leaving a STOP-MARKET order in the book and getting out in the random noise part.
* For example if you entered short at Price-10 and left your bid at Price-5, you would probably leave your bid at Price-10 if the price went against you up to Price-15 (because now you're wrong).
* Alternatively, if it doesn't come back all the way, you may want to get half out at Price-12 and leave the other half to get out at Price-8 (because if you're right and it comes back there's a high chance it will trade through you).
Its little tricks like these that save you over the long run. You realize that if you are a Binary trader (in versus out only) then you will have a very hard time because of how efficient markets are these days, with price action seemingly gone now, therefore you will need to be more sophisticated in terms of time-spent-at-prices and how aggressive bids/offers get wiped.
