Using Trailing stops in Intraday Trades | Forex Factory

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Using Trailing stops in Intraday Trades

  • #1
  • First Post: Jun 23, 2014 4:03am Jun 23, 2014 4:03am
Hi,

I would to ask about usage of trailing stops in Intraday trades. Please share your views about it.

So far, what i have noticed, that if target is 20 pips, when market is at 15 pips, trailing at 10 pips is , really gives less room for the price to correct. Mostly it get stopped out due to high volatility.

Sometimes, if i don't trail position, and market moves 15 pips then didn't reach 20 pips rather moved back against my trade eating SL, then i feel worst.

So, i'm confused at this point, trail stop using intraday trades is really helpful or not, specially during news release.

What position you trail generally?
What is your average target for intraday trades?

I generally use 10 pips SL & 20 pips TP. Once trailed, i increase tp.

Thank you
Regards
Discussion is an exchange of knowledge;argument is an exchange of ignorance
  • #2
  • Jun 23, 2014 4:22am Jun 23, 2014 4:22am
First, I do not use TS as part of logic - I use it for protection, so if the SL gets hit, it generally means the trade failed.
Mostly I place it close (e.g. ATR/3) behind extreme of the two last finished bars.
I use Constant Volume charts for trailing, they give me quite flexible adjusting.
  • #3
  • Jun 23, 2014 4:49am Jun 23, 2014 4:49am
I don't use TS cause each trade is 10% leverage NAV, so i have 10 positions maxed out margin.

But, my STOP is when hourly CLOSE above previous high/low, so it's manually close out position every hour.

at times news drag you out into negative/positive region, but leave that to gambling part is ok for me, give and take.

I wonder if anyone like to comment/critic such method?
  • #4
  • Jun 23, 2014 5:09am Jun 23, 2014 5:09am
Quoting PipPirates
So, i'm confused at this point, trail stop using intraday trades is really helpful or not, specially during news release. What position you trail generally? What is your average target for intraday trades?
//-----

hey pirates...... the typical intraday pip range on most pairs is so small that unless you are using very large lot sizes in a very small account, trailing stops on intraday orders might not be worth much.... on longer term, larger target orders trailing stops might be effective.....

it's always interesting, at least for me, to read the metaquotes interviews .... the subject of trailing stops often comes up .....
//-----

in answer to your questions above....

i do not use trailing stops.....

my intraday target is almost always the 4 hour atr.....
//----

......h
to trade and code, keep both simple... no call to impress....h
  • #5
  • Jun 23, 2014 5:55am Jun 23, 2014 5:55am
Quoting hayseed
{quote} //----- hey pirates...... the typical intraday pip range on most pairs is so small that unless you are using very large lot sizes in a very small account, trailing stops on intraday orders might not be worth much.... on longer term, larger target orders trailing stops might be effective..... it's always interesting, at least for me, to read the metaquotes interviews .... the subject of trailing stops often comes up ..... //----- in answer to your...
Thank you for the idea. I read the interview.
Yes, you are right, Intraday pip range is small, that's why using small targets. But got your point.

Quoting Halley
First, I do not use TS as part of logic - I use it for protection, so if the SL gets hit, it generally means the trade failed. Mostly I place it close (e.g. ATR/3) behind extreme of the two last finished bars. I use Constant Volume charts for trailing, they give me quite flexible adjusting.
That's really a nice method for trend followers. I guess you use larger time frame.
Discussion is an exchange of knowledge;argument is an exchange of ignorance
  • #6
  • Last Post: Jun 23, 2014 6:24am Jun 23, 2014 6:24am
I am interested to hear from experienced 5 min traders to see if they use trailing stops or more importantly at what point in a trade that is in profit, do you start moving your stop to BE or above??

I am working on a 5 min strategy that takes trades with and against the trend and need advice at what point do I lock in my trade at BE espeically trades that are with the trend?
Most trades have a 5-15 SL for 1:1 or above TP

thanks
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