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Trailing Stop or Take Profit?

  • #41
  • Jul 12, 2017 3:08am Jul 12, 2017 3:08am
Trailing stop is very useful tool in case you are unsure what would be the next market move.
But in cases of clear trend developing I do prefer using only the TP and SL options.
  • #42
  • Aug 31, 2017 4:34am Aug 31, 2017 4:34am
Take profit is my first choice, because I am confident enough about my trading strategy! Basically, in my trading I use stop loss and take profit! On the other hand, I sometimes use trailing stop during high voltage news session.
  • #43
  • Aug 31, 2017 6:21am Aug 31, 2017 6:21am
Quoting NeilWagner
Take profit is my first choice, because I am confident enough about my trading strategy! Basically, in my trading I use stop loss and take profit! On the other hand, I sometimes use trailing stop during high voltage news session.
I am not enough confident about the trading strategy I have. That’s why I have to depend on SL than Take profit. Very sometimes my TP hit when trading , honestly said.
  • #44
  • Dec 14, 2017 9:42am Dec 14, 2017 9:42am
Quoting UlliC
Trailing stop is very useful tool in case you are unsure what would be the next market move. But in cases of clear trend developing I do prefer using only the TP and SL options.
I think, if you are very sure about the strength of the market trend, then you can use the trailing stop tool! By the way, take profit is my 1st choice! Because, I have set my SL and TP position according to the of support and resistant levels.
  • #45
  • Dec 19, 2017 2:18am Dec 19, 2017 2:18am
You have to consider swaps when using Trailing Stop. When I started using this feature I somehow forgot about it, so couple of trades that I ran for like a week closed with 15$ profit and the same time swap was around 18$ (just an example, don't remember actual numbers)

So you can easily lose money taking the profit
  • #46
  • Jun 14, 2018 3:15pm Jun 14, 2018 3:15pm
Quoting Marker7
I use both, first thing is to lock your trade when it is in reasonable profit. Don't let market take back a winning trade from you. Another good thing is to close some position of your trade, this will guarantee some profit in your account even if market reverses to hit your BE.
can someone explain me how to do this?
  • #47
  • Jun 17, 2018 10:44am Jun 17, 2018 10:44am
The Take Profit option is better than trailing stop. You still reach your daily target..
  • #48
  • Jun 18, 2018 5:14am Jun 18, 2018 5:14am
Trailing could be a good option in case when you are not certain about market movements as it can be helpful in controlling the emotions of traders up to an extent and also offers capital protection.
  • #49
  • Jun 18, 2018 4:35pm Jun 18, 2018 4:35pm
Quoting maria098
Trailing could be a good option in case when you are not certain about market movements as it can be helpful in controlling the emotions of traders up to an extent and also offers capital protection.
I agree with you specially for traders who don't like to use hard stop loss,at least trailing stop may save their capital.I really want to learn how to use different settings for different major 7 currency pairs.if someone can please start this project,i started with no success.
  • #50
  • Jun 19, 2018 11:54am Jun 19, 2018 11:54am
A trailing stop is rarely an optimum exit method as it takes no account of degrees of volatility and is set to an arbitrary delta to current price. If you weren't in a position to manage a trade you could just about warrant its use, but if you're not in a position to manage the trade, better to exit in full.

Take profit as a hard stop also rarely makes sense. Certainly you can be ready to exit at levels you deem to be significant, partially or fully, but in my view it's better to watch price action around these levels and decide dynamically rather than have something set in stone.

This is probably covered elsewhere, but using a ratchet stop based on next lower timeframe hooks tends to yield a far better exit mechanism than TP or TS.
Trump is a total Cunt. Anyone who thinks Trump is great, is also a Cunt.
  • #51
  • Jun 19, 2018 5:26pm Jun 19, 2018 5:26pm
Quoting KovanWizard
In my opinion, it boils down to how badly you need/want that profit. For me, I hate to see profits evaporate in front of my eyes, so I try to TP. Just sharing my thoughts. Thanks.
Not only you, almost all of traders use the TP as their 1st choice; by the way; sometimes we need to use trailing stop according to the market conditions.
  • #52
  • Jun 20, 2018 3:55am Jun 20, 2018 3:55am
Many traders are using the Trailing stop to generate profit. For example, follow the screenshot
Attached Image
  • #53
  • Jun 20, 2018 12:13pm Jun 20, 2018 12:13pm
Quoting DwainUK
Many traders are using the Trailing stop to generate profit. For example, follow the screenshot {image}
I love this kind of screenshot, surely if we can follow a decent trendy market with trailing stop that would be profitable enough.
  • #54
  • Jun 21, 2018 9:37am Jun 21, 2018 9:37am
For sure, the Trailing stop has its benefits and traders should not rule it out of their playbook.
  • #55
  • Jun 21, 2018 11:33am Jun 21, 2018 11:33am
Quoting DwainUK
Many traders are using the Trailing stop to generate profit. For example, follow the screenshot {image}
can you please explain as how to place trailing stop and when? at the time of placing the order or later when it is already in profit? and what number of stop trailing if we want to gain 10 pips?

how to calculate stop loss number ,is it on LL or HH ?
  • #56
  • Jun 22, 2018 9:53am Jun 22, 2018 9:53am
Quoting ZikriIrfan
{quote} I love this kind of screenshot, surely if we can follow a decent trendy market with trailing stop that would be profitable enough.
Yes, this is easy way to skip the price following. Just put the TS and go outside to drink coffee
  • #57
  • Jun 24, 2018 11:16pm Jun 24, 2018 11:16pm
Quoting DwainUK
{quote} Yes, this is easy way to skip the price following. Just put the TS and go outside to drink coffee
Exactly, it is! But, the problem is this type of trading environment is not available here and there. Maybe 1-2 times in month for a specific trading pair.
  • #58
  • Jun 25, 2018 3:39am Jun 25, 2018 3:39am
Quoting DwainUK
{quote} Yes, this is easy way to skip the price following. Just put the TS and go outside to drink coffee
Which is only semi-professional.
Stochastic and Heikin Ashi
  • #59
  • Jun 25, 2018 9:30am Jun 25, 2018 9:30am
Quoting T4Trade
{quote} can you please explain as how to place trailing stop and when? at the time of placing the order or later when it is already in profit? and what number of stop trailing if we want to gain 10 pips? how to calculate stop loss number ,is it on LL or HH ?
When you open an order, Right click on the dashed line of the order, then go to "Trailing stop" and select the period in points. You can set a custom value in points as well. I prefer to set it on the beginning, when placing the order. Shortly, the TS will start following the price, depending on the selected period. Just try it & will got it
Attached Image
  • #60
  • Nov 27, 2018 5:36am Nov 27, 2018 5:36am
Quoting DwainUK
{quote} When you open an order, Right click on the dashed line of the order, then go to "Trailing stop" and select the period in points. You can set a custom value in points as well. I prefer to set it on the beginning, when placing the order. Shortly, the TS will start following the price, depending on the selected period. Just try it & will got it {image}
Perfect! Even, I liked your chart! By the way, trailing stop is a useful technical tool to use. I see, few traders focus on this tool rather than TP.
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