I hear and I forget. I see and I remember. I do and I understand.
Intraday price action trend trading
- #6,746
- Jun 7, 2011 9:48am Jun 7, 2011 9:48am
I have a question about trade management. I used to trail my stop to BE as soon as profit = stop.
I have read sometimes sho told us to do like that, and sometimes he told us to move the stop to BE as soon as the next bar goes into profit.
How do you practice?
In your opinion and your experiment what is the best trade management way?
Thanks for your replies
By the way.. i've been testing some strategies on MT4 built-in tester for a period of 3 last years and i can tell that it would be better TO NOT move the SL to BE at all!
the final result is better when SL is not trailing to BE while trading.. it's very impotrant to move SL to BE for trader's psychology,for traders comfort... when you trade mechanically and you have balls of steel you may not to move it to BE... that's my opinion 
- #6,748
- Jun 7, 2011 9:56am Jun 7, 2011 9:56am
you like counter trend. Hope won't hurt your account.
Besied, the up trend is still intact, why short
2 elements: There was a pin on a pivot resistant and near a RN, and the was a RSI divergence.
Then i try (with little stop) to short in thinking move my stop to BE fastly. But i've not have the time!!!! It is a loss.
I agree with you, it is a dangerous to go counter trend, but i try to learn and feal the price reaction.
I hear and I forget. I see and I remember. I do and I understand.
- #6,749
- Jun 7, 2011 10:03am Jun 7, 2011 10:03am
it is the matter of your comfort.. when you trail your SL to BE then you feel no stress regarding the further price movement, now you have a stress-free trade.It is your choice only to move it to BE just after the 1st profitable bar closed or to wait until it reaches the SL size.. it's the matter of trading psychology - to prevent the winner to become a looser...
By the way.. i've been testing some strategies on MT4 built-in tester for a period of 3 last years and i can tell that it would be better TO NOT move the SL to BE at all!
whaoooooo, it's a big news for me, this backtesting is in the total opposition of what we heard everywhere on the BE trailing. It's a very interesting information that you have gave us. Thanks
I hear and I forget. I see and I remember. I do and I understand.
- #6,750
- Jun 7, 2011 3:58pm Jun 7, 2011 3:58pm
whaoooooo, it's a big news for me, this backtesting is in the total opposition of what we heard everywhere on the BE trailing. It's a very interesting information that you have gave us. Thanks
For mechanical trading(EA's usage,no need to sit next to PC and have stress) if not to move SL to BE it would be better for trading results..
i hope u understand me properly
- #6,753
- Jun 8, 2011 12:18am Jun 8, 2011 12:18am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !
- #6,755
- Jun 8, 2011 2:01am Jun 8, 2011 2:01am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !
- #6,757
- Jun 8, 2011 3:51am Jun 8, 2011 3:51am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !
- #6,758
- Jun 8, 2011 5:04am Jun 8, 2011 5:04am
the main thing i told in my post : when someone is trading sitting infront of the trading platform ,he should move SL to BE (later or earlier) bcos if his winner wont become a a looser ,it willbe stress-free... PSYCHOLOGY...
For mechanical trading(EA's usage,no need to sit next to PC and have stress) if not to move SL to BE it would be better for trading results..
i hope u understand me properly
Hi Gravi my friend,
So you are trading mechanically or manually.
Though I'm still using 4H and trading manually somehow, I don't feel at ease.
Shake it off!Lick the Wound,Prey Again!
- #6,759
- Jun 8, 2011 9:06am Jun 8, 2011 9:06am
- | Joined Apr 2008 | Status: Trader | 1,171 Posts
Jesus Christ is my only Lord !