Discussion is an exchange of knowledge;argument is an exchange of ignorance
Looking for Trailing Stop EA like default MT4 trailing stop 7 replies
Trailing step and trailing stop optimization 0 replies
Setting more effective stop loss/trailing stops? 5 replies
Buy Stop and Sell Stop orders with OCO and Trailing Stop 0 replies
To Trailing Stop or Not To Trailing Stop.... 36 replies
DislikedI basically use manual trailing stops following higher lows/lower highs and support/resistance areas as possible partial targets as described in article bellow. I'm a swing trader so it works very well for my trading style. I lose more often then win, but when I win my average profit is 2.65x greater then my average loss (win ratio = 42 % / profit factor = 2.65). If you are a range trader or scalper this technic may not work for you. It's all about your win/lose ratio and profit factor. http://www.tradeciety.com/four-steps...de-management/...Ignored
DislikedI'm not a coder, but maybe you could use Asymmetric Fractals indicator to identify higher lows/lower highs (I find 5 FramesBefore/candlesticks 9 FramesAfter setting to work best) and automate your trailing stop according to it. You can use it on 1m or 5 m chart to recognize very short term waves. I trade from 1h/4h/daily chart, so my trades tend to take a day or longer to complete. The other method to establish your trade targets can be simple technical patterns targets combined with support/resistance levels. The best books I have read on this...Ignored
DislikedEvery time I reverse engineer a trailing stop (volatility or set pip... ie: ATR or 'xx' pips) I fell like I'm going down the rabbit hole. It makes sense to place your stop behind a level of opposing limit orders. That way those orders can help to halt price & turning it back if it retraces on you. They can be recent swing h/l (proof there were limit orders/opposing force to drive price away) or news of a bank/large entity or group of retailers placing limit orders at a level. The most interesting discovering I had when researching stops & stop-placement...Ignored
DislikedHello Members, Can you suggest any good trailing stop methods which is proven effective in long run? The traditional one cuts trades with whipsaws as its not price action based. What is your experience with trailing stops? Thank you in advance, Regards PPIgnored
Disliked{quote} PipPirates, You can use volatility adjusted stops, something like ATR adjusted or Bollinger Bands adjusted. What you want to achieve is to protect your existing profits without getting whipsawed in violent moves/swings in order to be able to capture more of a move. All volatility measures are back looking, so essentially you will be using something historical to estimate the future, which will work well in some times & fail in others. A simple ATR adjustment is to trail your stop loss by 1xATR everytime the instrument moves 3xATRs. Since...Ignored