Who is best ? stop loss or trailing stop

I don't use trailing stop-losses as such, I don't like the idea of being taken out of a position simply based on how many pips have come off price's furthest point of travel, when the TA might still be extremely profitable.

But I do advance my stops when I pyramid on a winner. So if the original stop is -100, and I pyramid at +100. I advance the stop on the first trade to b/e. After that I continue to pyramid and advance stops at steps of 100.



(I believe trailing stops are a feature of new trader training so that the new trader does not lose too quickly and go straight back to the trainer with a grievance. You will still lose out if you use strict trailing stops, but by the time your account is worthless, the trainer can claim significant separation in time from what he taught to what was your result. So how can it possibly be his fault?)

It depends on your strategy. No one can give you exact answer. Even there are many traders who do not use either of them. I use stop loss as I can't frequently check the market. You will never get a good answer, unless you find it by yourself. Trading is sometimes a trail and error method. You have to try to find out what suits you.

I really liked your approach James; actually, in my trading I use moving average trading tool! I see, many of negative comments on this tool; but it’s working for me that’s way I am using!

Really?
For me, this is not even a 'strategy' question ...
For me it's a question of profit in the whole.
I don't use trailing stop at all.and use stop loss very rarely. I could put a trailing stop in case I had enough of closing a trade at the opening price.
It's interesting to hear here experienced traders with long-term trading experience using the trailing stop.
What are your results, guys? quote me for answer please.

I think it depends on your strategy. In short profit target you can't use trailing stop. Price doesn't go steadily. It moves back and forth. Trailing stop is for a longer term trading, when your target pips are huge. Again it depends on your understanding of the market and what type of strategies you are using.

You can go thru this link with best example given in the site.

https://www.investopedia.com/article...-stop-loss.asp

Thanks

Forex is indisputably a risky market place where traders are now trying to use various pending orders as risk management tools so that they can hedge their position against risks. From my own point of view, I personally think that there should not be any argument on the effectiveness of stop loss or trail stop. But yes, if a trader is not experienced enough to forecasts market, then he may fail to use these pending orders effectively. I love both.