To move the stop loss to each achieved target in trading (especially in scalping or short-term trading), you need to follow the "moving stop loss" strategy 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%
The initial stop loss was at -1%.
Steps:
1. When target 1 is achieved:
Move the stop loss to the entry point (Breakeven).
This protects you from losses if the price retraces.
2. When target 2 is achieved:
Raise the stop loss close to target 1 (e.g., +0.8%) to lock in partial profits.
3. When target 3 is achieved:
Close the trade completely or move the stop loss to target 2 (e.g., +1.8%).
The automatic method (Trailing Stop):
If you are using a platform like MetaTrader, Binance, or TradingView with a bot:
You can set a Trailing Stop so that the stop loss automatically moves behind the price by a specified distance (e.g., 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 to avoid it being hit due to small fluctuations.
Use technical tools to identify support/resistance areas to place the smart SL.
Try this first on a demo account to ensure timing and style