I am by no mean a pro trader or something. But I am very good in math and statistics because of my electrical engineering career.
Anyway I will explain to you why moving SL to BE is very bad and noobish in few simple words w/o using complex math.
1-You open two lots , with both TP 30 pips. One hit TP , the other you move SL to BE. The 2nd lot hit BE , no problem , you still got your 30 pips , right? WRONG!
Thats what you did : You had +60 pips in your equity for the 2 lots , when you moved SL to BE for 1 lot, it ONLY means you opened a random new trade with -30 SL , when it hits the SL at BE , you lose 30 pips from YOUR money!!
2- Moving SL to BE = opening a random trade , a trader that moved SL to BE in an EU trade is the same as a trader who is opening a random order in EU trade with SL = -30 pips.
3-When you open 2 lots and both hit SL , any new trade BOTH 2 lots must hit TP in order to be profitable , moving SL to BE can decrease your winning % drastically.
4- Have you ever seen someone moves TP to BE when he is -15 pips ?? It makes the same sense , or even a better approach!! Because 1 trade can hit BE and the other hit the -30 pips SL and you lose -30 pips instead of -60!!. So moving SL to BE is only an emotional product where you like to feel safe. While the truth that this puts you in real danger.
5-Why do you move SL to BE ? Why not +10 pips or +20 or more? Because you want to give the trade more room , right?? Guess what , keeping the old SL will give the trade MORE room and you have more chance hit your TP!!
6-You are going out , or going to sleep...etc, Then instead of moving SL to BE , close your +30 pips and enter another trade in a retractment or even another pair with -30 SL! The exact same thing.
Conclusion
Moving SL to BE will decrease your winning % . If you do your homework and studied your system and confident about % of hitting TP , never move SL to BE.
Anyway I will explain to you why moving SL to BE is very bad and noobish in few simple words w/o using complex math.
1-You open two lots , with both TP 30 pips. One hit TP , the other you move SL to BE. The 2nd lot hit BE , no problem , you still got your 30 pips , right? WRONG!
Thats what you did : You had +60 pips in your equity for the 2 lots , when you moved SL to BE for 1 lot, it ONLY means you opened a random new trade with -30 SL , when it hits the SL at BE , you lose 30 pips from YOUR money!!
2- Moving SL to BE = opening a random trade , a trader that moved SL to BE in an EU trade is the same as a trader who is opening a random order in EU trade with SL = -30 pips.
3-When you open 2 lots and both hit SL , any new trade BOTH 2 lots must hit TP in order to be profitable , moving SL to BE can decrease your winning % drastically.
4- Have you ever seen someone moves TP to BE when he is -15 pips ?? It makes the same sense , or even a better approach!! Because 1 trade can hit BE and the other hit the -30 pips SL and you lose -30 pips instead of -60!!. So moving SL to BE is only an emotional product where you like to feel safe. While the truth that this puts you in real danger.
5-Why do you move SL to BE ? Why not +10 pips or +20 or more? Because you want to give the trade more room , right?? Guess what , keeping the old SL will give the trade MORE room and you have more chance hit your TP!!
6-You are going out , or going to sleep...etc, Then instead of moving SL to BE , close your +30 pips and enter another trade in a retractment or even another pair with -30 SL! The exact same thing.
Conclusion
Moving SL to BE will decrease your winning % . If you do your homework and studied your system and confident about % of hitting TP , never move SL to BE.