Can I set a stop loss above the current price?
Forex Forum Forex Trading in Nigeria
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Posted by Tobi
on June 09, 2011 at 04:16:41:
Assuming I am in a Long position and I am already having a lot of losses due to my entry price, can I then set a stop loss above my current price? Let's say I entered a position at 1.35 and the current price is 1.25, am I allowed to set or change my stop loss to 1.30 just to minimize my loss to 0.05 just in case price goes a bit up without making me any profit?
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