Sometimes because traders dont want to lose money, they keep adjusting their stop loss to accomodate a losing position. If you ask them why they are doing this, they will tell you it's because they cant afford to lose money. And like the popular saying goes: "if you cant take a small loss, sooner or later you will take the mother of all losses". Yes, I know risk management is important but too much of risk management will cause you to find a way to talk yourself out of a trade. It;s like a boxer who lost a match because he kept playing defensive and no offensive, the boxer may have avoided getting hit but still lost the match in the end. I beleive in trading the goal should be to keep the losses small, but not to avoid them altogether. Please I would appreciate comments and personal experiences about this.
