Trailing stop on profits? Yes or No and Why.
Sep 06, 2011 at 19:51
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2 Replies
Member Since Jun 07, 2010
82 posts
Sep 06, 2011 at 19:51
I love locking profits. My favorite trailing stop on profit is 25 pips. This means that if my current entry gains 25 pips it will start trailing and the stop loss will not move unless the price keeps going in the right directions. There is another type of trailing that it will move the stop loss even if price is going against me, this one I don't like.
Grace is the greatest thing ever!
forex_trader_43716
Member Since Aug 06, 2011
345 posts
Nov 09, 2011 at 07:59
I will not trade without a stop-loss, take-profit, and trailing-stop in place. Ideally, my take-profit will be triggered, but I am just as happy if my trailing-stop manages to lock-in a profit. My trading history clearly shows that my trailing-stop is hit far more than my take-profit, but I am still very profitable. My stop-loss? For emergency situations only!
Member Since Dec 01, 2011
95 posts
Dec 08, 2011 at 04:41
(edited Dec 08, 2011 at 04:43)
Trailing stops are good, when you can't watch your trade. and are good for trading a news event. another type of stop loss that we use a lot is a time stop... Get yourself a cheap kitchen timer. when the bell goes off. time to exit. Keeps you from over trading and gets you out of a stagnant trade.
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