Originally posted by Okda
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As linked by sanriopurin, I'm used to move my SL to BE when the Price reaches 1:1 and when I can expect more than 1:1.
In general, moving the SL at the break-even can be tricky depending on the system because if you do it too soon, you don't let the trade express himself and you can have a lot of BE trade. And if you put it too late, you can have more losing trades.
I consider that a setup is valid or not if it reaches 1:1. It was not the case for the EURGBP. It can be frustrating because as you said it came near to the TP.
However, if I did it I would have protected this trade but I would have lost the profit of the previous GBPNZD Daily trade. The Daily GBPNZD setup I took reaches 75% profit too before coming again at the entry price to fall again after. And you can see where the Price is now.
Originally posted by Big River Man
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At the moment, the USDSGD H4 trade is not cooperative at all since the beginning but the price came again near the entry price during the Asian session. However, this setup is technically really lovely. I trade rarely this pair so I jump into a trade only when it worth it and it's the case here :-) But it's possible that it will be loser too. Again, it can be frustrating relating to the loss of yesterday. This is part of the deal with the Market when you trade.
The NZDCAD Daily setup looks more friendly for now.
Have a nice day
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