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Disclaimer: Beginner question about stop loss
Hi guys, I have invested time in learning about swing trading the last few weeks, it's very interesting so far. I decided to start paper trading just for fun (via IBKR) this week. Now I made a trade where: \- I set the Take Profit 3% higher than my entry value \- I set the Stop Loss 2% lower than my entry value So far, my Total Return on this trade is 2,32%. I want to hold on to the stocks until I hit my Take Profit. My question is, do I now increase the Stop Loss value to avoid any losses? For example, do I change it to a level where it is just above my entry so my fees etc. are covered? That way I would not lose anything if the trade ended up going bad at some point. I curious to hear your advice, lots to learn.4
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