Hi.
I am really new to trading. Could anybody tell me how to use trailing stop?
Some example would be appreciated.
Thanks
I am really new to trading. Could anybody tell me how to use trailing stop?
Some example would be appreciated.
Thanks
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Quoting bus4s2vDislikedHi.
I am really new to trading. Could anybody tell me how to use trailing stop?
Some example would be appreciated.
ThanksIgnored
Quoting bus4s2vDislikedHi.
I am really new to trading. Could anybody tell me how to use trailing stop?
Some example would be appreciated.
ThanksIgnored
Quoting PeterFMDislikedIt's a manual system but I like to use it to set stops as price moves.
I'm trading the Knife system (4hr chart) but once things get moving I switch to 1 hr or 30 min chart and normally adjust my S/L to about 2 PSAR points away from the indicator's current actual spot. I also look at Price Action to determine how far to trail my stop if I want to move to break even or minimise potential loss.
It's also quite nice to get confirmation that your planned trade is developing. By that I mean with the Knife you're sometimes looking 1 or 2 candles ahead for an entry and because of the way PSAR works (price & time) if the PSAR spots are getting progressively closer to real price without a realistic chance of you hitting your buy or sell points, I might think of moving onto a different pair.
If you've not used this before try the default setting (0.02, 0.20) before playing around. Mine are set to 0.05, 0.50 as this was what I was going to use to enter trades before I came to my senses and studied the Knife Method. I still like to see the PSAR though. It is the only indicator on my 4 hr charts.
PeterIgnored
Quoting alsup1955DislikedHow ru doing using the knife system...Just wondering what is is and how to find out......I'm a nebie ,,,can't u tellIgnored
Quoting pmurfinDislikedHi
A question from a newbe!
Can somebody explain what a parabolic SAR is, how it is calculated and how to decide upon the parameters. And also do many of you guys use it as a trailing stop ... I plotted it ... it looks pretty good as a trailing stop but a bit spikey ... can it be smoothed?
Many Thanks again
PaulIgnored
DislikedHi. I am really new to trading. Could anybody tell me how to use trailing stop? Some example would be appreciated. ThanksIgnored