Trailing – Views on Managing TP and SL

Friends...

can you pls share your views on trailing systems you are practising.

Building an automated trading robot which is desing only to manage TP and SL?? Is there any knowledge about this?

Ordinary trailing stop seems one way....but I was hoping maybe some can share other opinion about it.

..some specifics about different crosses like GBPJPY and USDJPY maybe?...

or...that we can put our trade on BE when there is 20 pips in plus for that matter?...

Maybe other way around? To manipulate TP levels in order to get better closing price?...


Any opinion ?

Hello Zigizum,

I have had really good results with Ryan Klefas' Swiss Army EA v1.51. I believe I got it on forex-tsd. But I am sure a search in the factory will turn up a copy and the manual for you.

In regard to what pip levels to set at... It is all dependent on your MM, which time frames, as well as the volatility of the pair.

To be honest, I am still working out how to stay on a trend (Daily charts) without getting kicked out when my trailing stop hits. I am thinking I may need to setup another platform for the more temperamental pairs. Anyways...

Happy pips.

Michael

I use move to open trailing stop under the certain circumstances.
I also use move with high price of move with close price when current close price is higher than a moving average of high over the X periods.