Too Long; Didn't Read
People tend to favour reducing losses roughly 2x higher than the equivalent gains. The closer the stop loss is to the current price, the higher the probability it is hit by a random fluctuation in price. Bumping your stop loss to entry is when you edit the price you entered the trade at after your trade moves some distance into the positive. It is also commonly referred to as "moving your stop loss to breakeven" It typically works better in Bear markets, where higher targets are harder to hit.