A good rule of thumb is: In a bull market, be long or neutral - in a bear market, be short or neutral. If you forget this rule and trade against the trend, you will usually cause yourself worries, and frequently, losses.
Never add to a losing position. On the Easy-Forex™ platform, traders can change their trade orders as many times as they wish free of charge, either as a Stop-Loss or as a Take-Profit. The trader can also close the trade manually without a Stop-Loss or Take-Profit order being hit. Many successful traders update their Stop-Loss price in their “live” positions beyond the rate at which they made the trade, so that the worst that can happen is that they get stopped out and still make a profit.
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