I know that every trade must carry its stop loss. The problem with me was when the market moved in my direction, I adjusted the stop loss accordingly. The way I did it was to find the next level of support or resistance and place my stop loss there. Unfortunately I got whipsawed 3 times yesterday. The consolation was, I made some gains but could have been better if not for the stop losses.
May be I trailed my stop losses a bit too soon and too close.
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