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Trailing Stop V. Moving average exit

  • Post #1
  • Quote
  • First Post: Dec 12, 2005 11:47pm Dec 12, 2005 11:47pm
Hello,

I have a question for the forum.
When exiting a trade what type of exit have you found most reliable? I am currently testing a 25 pip trailing stop, but noticed when I placed a 40 WMA on the chart and used a close above/below to confirm the close I got better results in some cases.

I was wondering if the members wouldn't mind sharing their thoughts on this subject.

Thank you in advance,
Pip Hunter
Hi piphunter, it really depends on your trading strategy. If you are intraday trading a lot of people here can help you. Myself, I tend to take medium term to long-term positions and set my stops much wider. I tried daytrading but found that stops would constantly get taken out due to the intraday volatility..not really my cup of tea.

I like the following exit strategies when trades goes against you:

* Jumping out of the window.
* Declaring myself bankrupt so the broker doesn't take all my worldly belongings. Legally I own very little, so they can't take much.
* Doubling up again and again, thereby moving the break-even closer and closer. Of course, at first I use my own money for this, then bank money, then illegal credit cards, then local loan sharks, and finally the mafia. This is brilliant because you soon have a position equal to the central banks and can be a real player. The exit strategy then is to either close out with several 100% return on your initial stake, or, if the trade keeps going against you, then the mafia take care of your exit...this involves a trip out to the desert, a pistol, and a spade.
* I always keep some money in a reserve insurance account, so I can buy a place on the witness protection programme, wiping my entire history, debts included.

: )
"Always bet on black"
Quoting abobtrader
Hi piphunter, it really depends on your trading strategy. If you are intraday trading a lot of people here can help you. Myself, I tend to take medium term to long-term positions and set my stops much wider. I tried daytrading but found that stops would constantly get taken out due to the intraday volatility..not really my cup of tea.

I like the following exit strategies when trades goes against you:

* Jumping out of the window.
* Declaring myself bankrupt so the broker doesn't take all my worldly belongings. Legally I own very little, so they can't take much.
* Doubling up again and again, thereby moving the break-even closer and closer. Of course, at first I use my own money for this, then bank money, then illegal credit cards, then local loan sharks, and finally the mafia. This is brilliant because you soon have a position equal to the central banks and can be a real player. The exit strategy then is to either close out with several 100% return on your initial stake, or, if the trade keeps going against you, then the mafia take care of your exit...this involves a trip out to the desert, a pistol, and a spade.
* I always keep some money in a reserve insurance account, so I can buy a place on the witness protection programme, wiping my entire history, debts included.

: )
those of us who day trade are way too busy to think of and write such witty replies..............or is it that people who long term day (like abobtrader) have way too much time on their hands..............hmmmmmmmmmmm????????

either way..............good trading to all

BB
I've been looking for the ADX to fall under 20 the price to flatten, the CAO or the Macd His to change directions or the lines to cross again. Waiting for the cross will kill your profits though.


It sounds like you change the Average when you look for your exit? What is your system if you don't mind?
My $0.02. A simple trailing stop is easy, especially since some broker platforms automate them. However, they tend to get "hit" quite frequently during retracements, only to watch price go back in your direction shortly afterwards. Especially when trading the Cable. Today was a good example...

I think stops based on visible price action (swing high/swing lows) are the best. Using Fib retracements or Parabolic SAR are good proxies of this. I've also been looking at using MAs as stops, and think they're better than simple, wooden trailing stops as well.


Quoting pip_hunter
Hello,

I have a question for the forum.
When exiting a trade what type of exit have you found most reliable? I am currently testing a 25 pip trailing stop, but noticed when I placed a 40 WMA on the chart and used a close above/below to confirm the close I got better results in some cases.

I was wondering if the members wouldn't mind sharing their thoughts on this subject.

Thank you in advance,
Pip Hunter
  • Post #6
  • Quote
  • Last Post: May 15, 2019 6:39am May 15, 2019 6:39am
Will the Trailing Stop remain active when the computer is turned off?
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