should i ever move my stop loss order 
you should move your stop loss order only if it s in the direction of your position for example imagine you re long xyz stock with a stop loss order 2 below your entry price if the market cooperates and moves higher you can raise your s l to further limit your loss potential or lock in profits the bottom linestop orders are a critical tool in a trader s toolbox traders and investors should always have a stop loss in place if they have any open positions otherwise they re trading without any protection which could be dangerous and costly stop orders can be adjusted in the direction of the trade if the market moves in your favor but you should never move a stop away from the direction the market is moving for example if you re long and the market is moving lower you should never lower your stop from where you originally placed it hopefully you have compiled a complete trade strategy entry stop loss and take profit before entering the market this way your mind and emotions are not in play just your strategy 