My Trading Rule 1 - Do not lose money

 

 

 

From my point of view the Stop Loss is very necessary and important, but the Stop Loss is to secure the Entry to the Trade.

In case I am onsite I will quickly move the Stop Loss to the Entry +- 1.

 

How quickly I move depends on the Timeframe of trade. 

The more aggressive the trade is (1 minute, 5 minute or 15 minute candle) the more aggressively I move the stop loss.

 

In summary, I change the time frame from which the access event originates with the beginning of the new candle.

This means that if the access comes from the minute chart, the stop loss will be adjusted in the next minute if I am in the plus.
If the access is from the 5min chart, then after five minutes and so on.
If the price goes against my assumption and takes my stop loss, I may be able to re-enter at a better price.
If not, then not.

 

My first Goal is not to lose Money, instead of winning money. The second Goal is to win Money.