What would be a good trailing stop to put on a order. I usually do a 20 to 30 but it sometimes hits it and then skyrockets. I know there is no exact one, so what do yall use?
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Joined Jun 2007
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Status: I came, I saw, I Traded
|63 Posts
I absoulutely hate it when I am up 40 pips, put stop to B/e then get stopped out and watch as price moves in my direction again. So I have recently done two things to prevent this from happening.
1) Stop trading anything less than 1H - actually I am starting to base my entries from 4H and up TF's
2) Have a much bigger stop. - Because the higher TF is relatively new for me I am trialing a 200pip trailing stop. My initial stoploss level is often (so far) much smaller than this, but I am trying to catch moves of several hundred pips and rarely does price move that far in a small space of time.
This is just my take on things. I get the feeling that different pairs will have different 'optimal' trailing stop levels. I am yet to work this out.
