DislikedI have realized that often I trail my stops too aggressively and this can result to losses. And I mean overall losses, not just on a specific trade.Ignored
My two cents: Both of you are right. Trailing too aggressively is very bad in this business not because of some law but because we allow greed and fear to take over. If we are comfortable with some mechanical system that works over time then it will do no harm. Maybe trailing as per manual will work. But as i note in this post here- http://www.forexfactory.com/showpost...postcount=4119 I suspect it is tough to deal with price movements when we dont have a plan.
Also you will know that Kostas doesn't trail his SL because he has found out that prices will often come down to test previous levels and take away any trailing SL. What he does is takes half profit and lets half run with original Sl.
As far as i am concerned, i think its all about levels. Random trailing to breakeven is bound to lose. Suppose i buy Gu at 1.5810 and keep initial sl at 1.5798. Now if price goes to 1.5820 is it wise to trail my sl to 1.5812? NO its absolutely foolish because i am losing protection provided by support.
So everyone for himself. My advise is consistent with what you do. Dont let heat of the moment take decisions for you.
Making money is easy- Just dont take losing trades