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Do you move your stop to break-even too soon? Are you moving to break-even so that your trade is now ‘Risk-Free’? Let’s discuss risk-reward and trade management, as the above is something I’m asked about regularly, and often it’s the same same trading questions and stories that I’m asked;
1) "Will, when I get into profit, should I then move to break-even to protect this profit?"
2) "Hi Will. I have a problem. As a day trader, I move to break-even to reduce risk but find that I'm stopped-out at break-even before price then heads for my profit-target. What should I do? It’s affecting my ability to trade profitably/trade a profitable strategy“
3) "Will, do you move to break-even? I'm not sure if it's helping or not, and Yes, I'm still losing money..."
Now, as ever, what works for me might not work for you, and vice-versa, but in the below video let's walk through a trade taken live using my GBPUSD strategy together, and I'll expand on why I feel that moving to break-even does much, much more harm than good.
You'll also notice that if I'd moved to break-even on the trade you're about to watch me take, live, it'd have been a loss rather than a +2R win, ...
I hope the above video helps, and if you do have any thoughts or questions please do feel free to either reply to this Email to reach me directly, or use the comments section below the video.
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All content is for informational purposes only. Nothing on this website should be interpreted as “advice”. I make no representations as to the accuracy, completeness, suitability or validity of any information on this site and will not be liable for any errors or omissions or any damages arising from its display or use.
Neither William Brown nor the company WBTrading™ offer any financial advice whatsoever within any information supplied, be that coaching calls or strategy guides, nor are either qualified to do so. Any person undertaking either does so with the understanding that the information supplied is simply a guide to demonstrate how William Brown trades the strategies he has devised.
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