I do use trailing stop and yes, it is an effective way to minimize the risk. It is not that strong because the price a which the sell order you filled can be ultimately lower than trigger price, so when there is price falling it can be a problem.
Trailing stops are a very collaborative part of risk control. Using trailing stops can save you a lot of losses. Many people trade by following this strategy.
LeviSievwright5 posted: Trailing stops are a very collaborative part of risk control. Using trailing stops can save you a lot of losses. Many people trade by following this strategy.