USD/CAD sold at 1.0336 to close position

0R profit. Yet another scratch trade. I shifted my stop to just below the August 2nd bar which also happens to be just about the breakeven level. The August 2nd bar defines the structural low of the recent range of trading.

I shifted my stop when the price exceeds 1.042 which is the level that shows a profit of 1R. So shifting my original stop to trail 1R from the high of 1.0444 serves to protect whatever gains I have so far LESS 1R.

If I do not have a trailing stop, then I risk seeing my 1R profit becoming a 1R loss. This is how I manage my trades. I have studied lots of trading books, attended seminars, webinars, and spoken to professional day traders. I would say trade management belongs in the intermediary level of trading. If trading becomes an established University course one day, then the subject of trailing stops, protecting your profits and trade management would be a 2nd or 3rd year module.