Trailing Stop : Does it work for you? - page 3
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do you mind sharing how to do your trailing stop?
Should NEVER be less than your initial StopLoss size and should increase proportional with the profit, to avoid premature close of your trade.
Except the case you are near to your TP target.
For example you can set a (dynamic) Trailing Stop at 75% or 50% of your ACTUAL profit.
The VERY BASIC Trailing Stop strategy is to set StopLoss price = OpenPrice when (Profit - OpenPrice) == (initial StopLoss size)
Should NEVER be less than your initial StopLoss size and should increase proportional with the profit, to avoid premature close of your trade.
Except the case you are near to your TP target.
For example you can set a (dynamic) Trailing Stop at 75% or 50% of your ACTUAL profit.
The VERY BASIC Trailing Stop strategy is to set StopLoss price = OpenPrice when (Profit - OpenPrice) == (initial StopLoss size)
Trailing stop is set to control BIG UNPREDICTABLE Losses.Remember the maxim-Cut short losses,let Profits run.Setting Trailing Stops minimize the Losses otherwise the losses
could have made a sizable dent in your account! The effective strategy is to set initial Stoploss AND initial Trailing Stop below the initial Stoploss.When trades goes against you
immediately,the loss is cut short at your initial Stoploss.However if the trade goes in your favour,the Trailing Stop should take over the charge and simultaneously you cancel
your initial Stoploss.
Trailing stop is set to control BIG UNPREDICTABLE Losses.Remember the maxim-Cut short losses,let Profits run.Setting Trailing Stops minimize the Losses otherwise the losses
could have made a sizable dent in your account! The effective strategy is to set initial Stoploss AND initial Trailing Stop below the initial Stoploss.When trades goes against you
immediately,the loss is cut short at your initial Stoploss.However if the trade goes in your favour,the Trailing Stop should take over the charge and simultaneously you cancel
your initial Stoploss.
breakeven?
I found out more efficient to set SL and TP that SL and TS in my trades.
At the moment, trading without an EA, the only "trailing stop" that I use is (if we can call it TS) to set the SL to the break-even point.
I have never been able to prove an overall benefit from a fixed distance trailing stop when applied to automated trading systems. Not saying that it can't inprove profits (or reduce losses), just that I personally have never succeeeded in using it effectively. In fact, I have had such incredibly bad results with trailing stops that it gave me the idea to try exactly the opposite - a trailing TP i.e. a fixed SL and a TP that follows the price if it runs away from you. The idea is to exit on a retrace.
Manually trailing a stop to strategic price levels has been worthwhile for me though. The challenge is programming a computer to "see" these levels.
I have never been able to prove an overall benefit from a fixed distance trailing stop when applied to automated trading systems. Not saying that it can't inprove profits (or reduce losses), just that I personally have never succeeeded in using it effectively. In fact, I have had such incredibly bad results with trailing stops that it gave me the idea to try exactly the opposite - a trailing TP i.e. a fixed SL and a TP that follows the price if it runs away from you. The idea is to exit on a retrace.
Manually trailing a stop to strategic price levels has been worthwhile for me though. The challenge is programming a computer to "see" these levels.
how do you see these levels?
I have tried numerous times to implement trailing stops into my EA but it does not help maximize any profit to any of my system.
So here we are to discuss those who had trailing stop and works for you. Please kindly share what is your concept of trailing stops.
Thanks
with trailing stop we have safe case.
i think about discussion about maximum profit from a strategy ; may be must check the EXIT CONDITION from position Based on
our strategy.( when appear opposite signal , ....