DislikedHello everybody!
I have been following this thread for quite some time and now decided to participate. Let me just say THANK YOU to all of you who are taking your time to help us here!
I prefer this method of trailing stops too. My question is: If a PB on Daily is activated (as in this €$ case) you trail your SL on high/low of the daily bars. What if you entered on activation of weekly PB, would you still trail your SL on daily high/lows ?
Would there be an exception when you would use H4's H/L as stops?Ignored
Good to see a new poster
For me personally I trail my stops as follows
If I am on the daily and weekly timeframes, I only exit on the same timeframe. So if I enter a weekly trade, I do not move my stops till the end of the week. Same with the daily. My stops are only based on daily movements and they happen at the end of the day. This prevents me from being emotional about my trades, personally.
For my 4hr and 1hr trading, I often trail my stops one timeframe under, as my trigger entry is often one timeframe under.
This is how I do things, and I don't just trail one bar back. I use a combination of trailing techniques. So I don't always put my stop behind the last previous bar, sometimes it i s the last 2-3, sometimes based on consolidation, PPZs, volatility based etc.
Take care
Mike