Should You Move a Stop Loss to Breakeven? ☝️

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What does it mean to move stop loss to breakeven? Bringing your stops up to breakeven. Or even bringing stop up tight. The issue you have with stops is that they have to be wide enough to accommodate market noise. However, I don't think you will have longevity in the markets if you're using a say 150 pip stop and looking for a 20 pip target. At some point if you're wrong a number of times in a row it will take you a very long time to recover. So the issue you have is with stop placement. Some people argue that breakeven is irrelevant because the markets don't care about where you've placed your stop. People get a psychological relief by moving the stop to the break-even level.

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