Who is best ? stop loss or trailing stop | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

To Trailing Stop or Not To Trailing Stop.... 37 replies

Looking for Trailing Stop EA like default MT4 trailing stop 7 replies

What's the best trailing stop loss EA out there? 0 replies

Analyse MT4 trades executed by trailing stop and Stop Loss 0 replies

Stop Loss and Trailing Stop 0 replies

Attachments: Who is best ? stop loss or trailing stop
Exit Attachments

Who is best ? stop loss or trailing stop

  • #21
  • Apr 9, 2010 10:10am Apr 9, 2010 10:10am
Quoting Bleek
I use a stop of around 10 pips, I'm about accuracy, I don't like trailing stops because they're not accurate and are a bit 'wishy washy'.

I've doubled two accounts in under two weeks so I guess I must be doing something right.
Congrats for doubliing account, anyway if you could do it constantly not for only two weeks would say much more, but just keep on
  • #22
  • Apr 9, 2010 10:58am Apr 9, 2010 10:58am
Quoting Saintsurfer
Congrats for doubliing account, anyway if you could do it constantly not for only two weeks would say much more, but just keep on
Totally agree, consistency rules all.
"I made all my money by selling too soon"
  • #23
  • Apr 9, 2010 11:53am Apr 9, 2010 11:53am
If I know I am going to be away from my screen for a time, I will place an emergency stop far away from price action. Mental stops are definitely the way to go. If you have been trading for a while, you know when a trade has gotten out of hand and you are best advised to get out immediately. When I used to add to losing trades, I found it very difficult to accept a stop loss. Nowadays, I am very, very slow to add to losing trades. It is very common for a pair to go one level above or below your entry and then proceed to go in the direction you anticipated. In this case, you may be justified in adding to your position. This is the ultimate "catch 22" when it comes to trading.
  • #24
  • Apr 9, 2010 12:01pm Apr 9, 2010 12:01pm
I never add to a position, if I got it wrong I got it wrong and move on.
"I made all my money by selling too soon"
  • #25
  • Apr 10, 2010 7:22pm Apr 10, 2010 7:22pm
Quoting Bleek
I never add to a position, if I got it wrong I got it wrong and move on.
Thats the best way to trade.
  • #26
  • Apr 12, 2010 2:22am Apr 12, 2010 2:22am
I dont use trail stop. Too inflexible. My rules with stop losses is just .. "move SL to break even and wait for TP to get hit, if it didnt get hit .. try again tomorow"
  • #27
  • Oct 21, 2012 2:22am Oct 21, 2012 2:22am
I think stop loss is better for new traders. I also use this option during my trade. I think it is better for make profit without any greed. I already made many profit by using this. It is true that practice can make a trader perfect for trade so that until be good trader any trader can use stop loss.
  • #28
  • Oct 22, 2012 4:31pm Oct 22, 2012 4:31pm
Trailing stop is hands down better

But do keep on mind,I'm the type who like 500-1000 pip trades which i think is what they had in mind when creating this type of stop out

An effective trailing stop under my observation which is my opinion about this subject ,should not be put on,until price has moved a rather significant amount,and then the trailing stop itself should be large also(100-200) to capture such huge moves

But then again,this is just my thinking for those who are with me,stand up!!! please
  • #29
  • Oct 24, 2012 5:25am Oct 24, 2012 5:25am
I use trailing stops. I suppose some traders underestimate them because they think they are not so much secure as stop loss can be. But if stop loss can only protect you from loosing money, trailing stops let profit run.
  • #30
  • Jun 2, 2016 9:31pm Jun 2, 2016 9:31pm
On my limited experience, trailing stops are good for slow moving pairs or when it is guaranteed to go towards a certain directions.

It is hard to use trailing stops on volatile pairs because the price swings might prematurely trigger your trailing stops.

I generally try to use stop loss. I put my stop loss on resistance/support level. If I see my trade according to my prediction, I adjust my stop loss.

On my experience, I always gets stopped out on trailing stops prematurely.
  • #31
  • Edited 10:03pm Jun 2, 2016 9:53pm | Edited 10:03pm
Quoting FXBaby
Hi friends, Iam using james price action. If iam correct all people who are using james method using stoploss.(Using using hehehe i write and speak english in stupid way.) I want to know (1)what is exact mean of trailing stop ? (2)stoploss and trailing stop. Who is best amosg these ? (3)when should we use it ? (4)should it would be 5-10 or more ? (5)How can i improve my strategy( sorry james16 price action) with trailing stop? Please answer........................................................... Iam waiting..................................................................
Have a listen to this podcast which discusses the pro's/con's of different exit methods. You might be surprised with the outcome. The supporting files are also located at the base of the page if you want to get deep into the analytics.

http://bettersystemtrader.com/037-ce...s-stop-losses/

Important note: There is no one size fits all for exits and for that matter, any trading parameter used with your technique. It is essential that you test the conclusions yourself against your own strategy and don't fall into the trap of blindly following hearsay from faceless colleagues on this forum.
  • #32
  • Jun 3, 2016 9:32am Jun 3, 2016 9:32am
Quoting Copernicus
{quote} Have a listen to this podcast which discusses the pro's/con's of different exit methods. You might be surprised with the outcome. The supporting files are also located at the base of the page if you want to get deep into the analytics. http://bettersystemtrader.com/037-ce...s-stop-losses/ Important note: There is no one size fits all for exits and for that matter, any trading parameter used with your technique. It is essential that you test the conclusions yourself against your own strategy and don't fall into the...
thanks C

sadly no stats for NO TP exit strategy, right. well, his concept was also to close the trade after x days, but for trendfollowing you cant really predict TP levels so trailing is your only possibility it seems.
  • #33
  • Jun 3, 2016 9:40am Jun 3, 2016 9:40am
Quoting 21vs7
{quote} thanks C sadly no stats for NO TP exit strategy, right. well, his concept was also to close the trade after x days, but for trendfollowing you cant really predict TP levels so trailing is your only possibility it seems.
Yep J. I use a trailing stop with the discretionary trend following techniques I use as it not only serves as an optimal exit, but it also represents the point where my definition of trend is over. For various breakout techniques and forms of mean reversion however, it is a different story and need to be tested as I tend to agree with Cesar Alvarez's analytics.

Geez J I will be glad to down tools tonight. There was quite a bit of movement tonight with the NFP which had me on edge. I hope things went all Ok with you. :-)
  • #34
  • Jun 3, 2016 9:56am Jun 3, 2016 9:56am
Quoting Copernicus
{quote} Yep J. I use a trailing stop with the discretionary trend following techniques I use as it not only serves as an optimal exit, but it also represents the point where my definition of trend is over. For various breakout techniques and forms of mean reversion however, it is a different story and need to be tested as I tend to agree with Cesar Alvarez's analytics. Geez J I will be glad to down tools tonight. There was quite a bit of movement tonight with the NFP which had me on edge. I hope things went all Ok with you. :-)
two things..
just briefly..when you get stopped out when in positive territory - probably your next trade on this instrument is again gonna be same direction as previous trade? Would you agree that this happens in most cases?

im excellent here..been adding new strategies to test..here is the latest...i just finished compiling the EA...but this results here are live!...risking 1R which depends on the currency pair volatility and NO TP...trailing is done...max 26R!
now trailing GJ only +13R already..
results for 1,5 month only soooo
Attached Image
  • #35
  • Jun 3, 2016 10:07am Jun 3, 2016 10:07am
Quoting 21vs7
{quote} two things.. just briefly..when you get stopped out when in positive territory - probably your next trade on this instrument is again gonna be same direction as previous trade? Would you agree that this happens in most cases?
During trending periods that's mostly the case particularly on the lower timeframes. Unfortunately for the last few months however I have been hammered by mean reversion whip saws, so most often at the moment I am glad to be out with a sliver of profit when the trail is hit as it inevitably takes off in the other direction.

In general however.....if the trend continues I simply enter again but have more price data to widen the trail in accordance with the expansion of the SDC. It's rare that I need to enter say for the third time in a trend as by the second trade I usually can define my trend projection with enough breathing room to avoid getting nailed by a modest retracement.


Quoting 21vs7
{quote} im excellent here..been adding new strategies to test..here is the latest...i just finished compiling the EA...but this results here are live!...risking 1R which depends on the currency pair volatility and NO TP...trailing is done...max 26R! now trailing GJ only +13R already.. results for 1,5 month only soooo {image}
Well done J. I love having the potential to make 'haymakers' and I agree that taking profit is not the way to go for my personality. Looks like you are nailing it. I wish I could say the same for myself. I am getting a bit jaded at the moment and in need of a break.
  • #36
  • Jun 3, 2016 10:31am Jun 3, 2016 10:31am
Quoting Copernicus
{quote} During trending periods that's mostly the case particularly on the lower timeframes. Unfortunately for the last few months however I have been hammered by mean reversion whip saws, so most often at the moment I am glad to be out with a sliver of profit when the trail is hit as it inevitably takes off in the other direction. In general however....
I see all CTAs are in this situation atm...up 1% this year....like you said..now is the time to be patient and all money management workout is due to this kind of market right

Quote
I am getting a bit jaded at the moment and in need of a break

thats the human nature coming out as you know..relax and enjoy with miss C for a while...read something else than trading...and not economy

Quote
..if the trend continues I simply enter again but have more price data to widen the trail in accordance with the expansion of the SDC. It's rare that I need to enter say for the third time in a trend as by the second trade I usually can define my trend projection with enough breathing room to avoid getting nailed by a modest retracement.

yes, everlasting problem how to trail and getting stopped out multiple times..in my last scenario i try to initially leave only little room for a trade..so if initial reaction is right and continues to trade in trade direction i still leave a little room...that is why i have only 35% win rate with average of 2,4 R per trade..then, when my trail level goes under/over entry point..i trail it till the end..plenty of room then so it seems..
But i noticed some stuff i still cant explain so lots of work here.
  • #37
  • Dec 8, 2017 2:04pm Dec 8, 2017 2:04pm
It really depends on the strategy. If you are really hard core you are moving your stops manually based on analysis.
  • #38
  • Dec 11, 2017 4:07am Dec 11, 2017 4:07am
I like to use trailing stop. I lose a few points if the order is closed on correction, but at the same time, I can always open a new order, It is more convenient for me from a psychological point of view. I like to look at when my stop-loss is in the positive area.
Point of view is a common opinion, passed through the prism of experience
  • #39
  • Dec 11, 2017 10:28am Dec 11, 2017 10:28am
I never used stop loss or trailing stop. For me it is a kind of superstition. It's like I pre-adjust myself to the negative outcome of this trade.
  • #40
  • Dec 13, 2017 4:11am Dec 13, 2017 4:11am
I use trailing stop constantly and it is much more convenient for me than usual loss. But sometimes the order can be closed because of the movement of the correction, for example, as on the chart. I honestly do not like to be nervous and wait for the correction to come back.

Attached Image
Dont hurry in three situations: marriage, sex, trade.
0 traders viewing now