Trailing stop methods

[TraderSeven]

What type of trailing stop method works best for you?
a] a fixed 5 pips trailing stop.
b] a 10 pips stop that starts to decrease after the profit target is reached.
c] a stop based on ATR.
d] Time based.
e] some other method you want to share.

Personally I'm thinking about a combination of b and c. But haven't an idea yet how to put it in code.

[Ravique]

It depends you know.

First two options ( if you really mean 5 or 10 ) ar too small, but if you mean just some rought numbers, i think they can work if your system is right, of course to figure hose numbers for your system you need to do a lot of testing.

I haven`t used ATR or Time based trailing stops so i can`t tell you much about them.

I once used a parabolic sar trailing stop, worked pretty nice.

[TraderSeven]

SAR is of no use. I need the stops for my exhaust sytem I descibed elsewhere. SAR is putting stops on the wrong side of the candles....

I use 5 pip stops in my dreams. When I'm awake 120+ seems more realistic.
Surely I'll test the numbers a lot. I'm waiting on Fridays final release of MT4 so I can start backtesting. (as a rough indication of performance)
Let's hope it works as it's my 1st piece of code in MT4.

[aris]

Hi everybody....

Most traders familiar with trailing stop....i guess

I am looking for trailing profit.......Anybody can help? here how it goes.....

After taking new position.....after the pip goes like -25 (negative) or more, i consider it a wrong timing trade. Forget about profit, now think about preserve the capital. The trailing profit will change/adjust the profit target from like say +25 pip to breakeven or small losses.

Anybody got mq4 coded for this one.

Thank you

[sgtua101]

I am not nderstand about trailing stop..because i am newbie

[kauaibobby]

I need to know how to use stop losses, trailing stops and profits and so much more.


I'm just demo ing now so no real loss but a gain in knowledge.


Everything was going so well .


I felt like I was figuring it out. it was going in my favor.


Then bam !!!!!!!


It all turns the other way.


Some times i think maybe i should close trade while I am ahead but it looks like things are are looking good in my favor.


I will just keep learning until i get it right.


I know its a GIANT learning process.
Lots of reading, studying and practicing.


Good things take time.


kauaibobby

[michael dunbar]

For my style of trading (daily charts), stops are the first thing I enter. If I don't know my stop, I don't know my risk.

I mostly use 70-80% of ATR(20) for my stops but it really does depend. I go into detail in my free ebook. click on my user name to find the thread.

p.s. I have a trading aquaintance who just looks at price on his platform to judge the entries/exits. Everybody's different but for me, I can't work without stops/