My trading mentor Jason Stapleton of http://www.triplethreattrading.com/ taught me the most important goals in trading was not to go broke. With that goal constantly on my mind I am always looking for reasons to protect myself in the market. This chart represents a trade that I took on Tuesday maybe. I forgot my exact reasoning but I know it was valid since I got involved. I think it was and AB=CD at 2 Fibonacci points along with the obvious structure & RSI divergence that you can see in the chart. Anyway, back to the topic of protection. Last night I decided to check on this chart before going to bed and I saw that price action had broken and closed above the previous high. This pleased me because I was able to move my stops up from was initially around a 90pip stop to being a 50pip stop. When checking the charts again this morning I saw that another new high was created and was able to move my stops up again to what was break even for me putting me officially in the safe zone. I call it the safe zone because at this point in this trade I can't lose money. Best case scenario, price keeps moving and I hit some profit targets. Worst case scenario, I get stopped out for break even and I avoid a losing trade. Either way it's free money i'm playing with now. After about a year of trading I'm noticed that trade management and knowing how to correctly protect yourself in the market is probably more important than simply being able to identify trade opportunities.