a novice
ive noticed in a weeks trading that ironically I’ve lost more profit on stop losses being triggered than anything else.
im confident in my traders, but “what if”
appreciate any clues from the pros !
Being confident in your trades is the key.
There are two main reasons that your stops are being triggered.
-
Your stops are too close to your entry…
-
Your entry is less than perfect (rushing a trade and/or your fear of missing out) compounding the effects of #1 above.
If you are confident then possibly put your stops way out of the way as more of a safety net. However, I would concentrate more on your entry then the stops. If you entry is good then the stops generally take care of themselves.
When I enter any trade I already have my profit and loss defined before I place the trade. I also have my entry defined regardless of what the market does. If I don’t get my fill based on my entry price, I don’t rush/push/chase the trade for fear of missing out.
I hope this helps!
