With one of our latest updates, you can now also track break-even trades in your journal.
Being able to distinguish between winning, losing and break-even trades can be very helpful because it allows you to get new insights into your trading behavior.
Break-even trades and psychology
Besides being able to differentiate between the different outcomes of your trades, it can be even more interesting to understand how your break-even trades are created.
Although break-even trades can be a part of one’s trading strategy (moving the stop loss to break even after price moved a certain amount in your favor) emotional decision-making can also be an issue.
Especially when traders are in a losing position, many just hope that the price will return to their point of break-even to get out. This clearly shows emotional trading and is mostly not the optimal approach.