$ETH How to Move Stop Loss to the Nearest Achieved Target

To move the Stop Loss to each achieved target in trading (especially in scalping or short-term trading), you need to follow the strategy of "Moving Stop Loss" or what is known as Trailing Stop either manually or automatically. Here are the steps simplified:

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The manual method for moving the Stop Loss to each achieved target:

Assume you have a plan with three targets:

Target 1 = 1%

Target 2 = 2%

Target 3 = 3%

And the initial Stop Loss is at -1%.

The steps are:

1. Upon achieving Target 1:

Move the Stop Loss to the entry point (Breakeven).

This protects you from loss if the price goes back.

2. Upon achieving Target 2:

Raise the Stop Loss close to Target 1 (for example +0.8%), to lock in partial profit.

3. Upon achieving Target 3:

Close the entire trade or move the Stop Loss to Target 2 (for example +1.8%).

The automatic method (Trailing Stop):

If you are using a platform like MetaTrader, Binance, or TradingView with a bot:

You can set the Trailing Stop so that the Stop Loss automatically moves behind the price by a certain distance (for example 0.5% or 1%).

Some bots (like 3Commas or Cornix) allow you to specify:

"When the price reaches Target 1, move SL to the entry point," and so on.

Important tips:

Do not move the Stop Loss too quickly so that it does not get hit due to small fluctuations.

Use technical tools to identify support/resistance areas to set the smart SL.

Try this first on a demo account to ensure timing and method.