The one rule that matters more than any entry
If you take nothing else from this room, take this.
The stop goes where the structure says, before you enter, and it does not move.
"I'll just give it a bit more room" is the most expensive sentence in trading. It converts a defined risk into an undefined one. If the level was right, the original stop was enough. If it was wrong, widening it only makes being wrong more expensive.
Two things follow from that.
Position size is the variable, not the stop. A wider stop means a smaller position so the money at risk stays the same. Risk never exceeds 1% per idea, and is reduced when conditions don't justify full size.
Missed entries do not get chased. If price left without you, the risk-to-reward you were offered no longer exists. There will be another one.
None of this is exciting. It is the part that decides whether you are still trading in a year.
Educational content only. Not financial advice. Trading carries risk of loss. Goldspire FX is not FCA authorised.
