Courses › BLT | Bank Level Trading
When to Use Mechanical or Discretional SL I
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What this lesson covers
Stop loss placement in this method is a combination of mechanical rules and discretion, and this lesson explains when each applies. Being entirely mechanical means accepting losses you could have avoided, and being entirely discretionary means moving stops for reasons that will not survive review. Neither extreme works. The lesson sets out the situations where a mechanical stop is clearly correct and saves money over a series of trades, and the situations where a degree of judgement genuinely improves the outcome. The point is to know in advance which you are in, so that discretion is exercised deliberately as part of the method rather than invoked as a justification when a position is uncomfortable.