Trailing stop loss - yay or nay?

[jeraldskie11]

It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.

[taufik123]

It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.

Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.

[jeraldskie11]

It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.

Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.

If you are only trading for 2R, I don't think you really need it. It's easy to reach when the market goes as your plan. Sometimes the market is fluctuating and very volatile, swept some liquidity to send the price higher. If you put a trailing stop with the 2R, it's not worth it because you are just wasting your time analyzing the chart, and then the gas fee is so high. So if ever the price hit your trailing stop, your profit is just enough to cover your gas fee.

[milewilda]

It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.

Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.

If you are only trading for 2R, I don't think you really need it. It's easy to reach when the market goes as your plan. Sometimes the market is fluctuating and very volatile, swept some liquidity to send the price higher. If you put a trailing stop with the 2R, it's not worth it because you are just wasting your time analyzing the chart, and then the gas fee is so high. So if ever the price hit your trailing stop, your profit is just enough to cover your gas fee.

If you are that trying to extract potential profits as much as you could then this is where trailing will be that significant but there will really be those indicators on which you could really be able to make use whenever theres that volume exhaustion but of course its not 100% guaranteed but of course this isnt something that a bad thing that you can make use and this is why its really that matters that you do really make use of these indicators on which  this will be that helpful but dont make yourself that being positive because you dont really know on how the market behaves on which no indicator will be giving out that assurance.

[jeraldskie11]

It's quite advance but easy to understand. I don't see how big the benefit we get when we apply this in our trades. Because when we analyze the chart, we include the taking profit area. So normally, we expect that the price will reach that area if the market will not go against us. And we only place it in the ideal price, not so high and realistic. So I don't think if the trailing stop is really needed in our trade. But in my personal opinion, I don't really need it.

Actually, it's quite optional, only you will know if you need it or not.
But some traders need it to limit how much loss will occur, rather of looking at how the strategy does not go according to plan so that there are no losses that are too big because they are already using the Trailing Stop Loss.
Trailing stop losses are suitable for trading stocks, futures exchanges, and other investment instruments.

If you are only trading for 2R, I don't think you really need it. It's easy to reach when the market goes as your plan. Sometimes the market is fluctuating and very volatile, swept some liquidity to send the price higher. If you put a trailing stop with the 2R, it's not worth it because you are just wasting your time analyzing the chart, and then the gas fee is so high. So if ever the price hit your trailing stop, your profit is just enough to cover your gas fee.

If you are that trying to extract potential profits as much as you could then this is where trailing will be that significant but there will really be those indicators on which you could really be able to make use whenever theres that volume exhaustion but of course its not 100% guaranteed but of course this isnt something that a bad thing that you can make use and this is why its really that matters that you do really make use of these indicators on which  this will be that helpful but dont make yourself that being positive because you dont really know on how the market behaves on which no indicator will be giving out that assurance.

Just like what I have said, it's not recommendable to use trailing stops with a 2R because the taking profit area is too tight. The price might hit your trailing stops and with one another candlestick it will hit your tp. But if I'm going to use trailing stops in the future, I will make sure that my reward when it hit the tp is 5r above.
Aside from that, I don't think indicators really effective because they are only telling you what happened in the past. But the only indicators I usually use is the volume and the RSI. So if you're going to use it make sure you have backtested it.

[New Ranger]

Just like what I have said, it's not recommendable to use trailing stops with a 2R because the taking profit area is too tight. The price might hit your trailing stops and with one another candlestick it will hit your tp. But if I'm going to use trailing stops in the future, I will make sure that my reward when it hit the tp is 5r above.
Aside from that, I don't think indicators really effective because they are only telling you what happened in the past. But the only indicators I usually use is the volume and the RSI. So if you're going to use it make sure you have backtested it.

A good effort and technique and I will try to apply it too, sir, so that my trading can be more optimal in the future.

[jeraldskie11]

Just like what I have said, it's not recommendable to use trailing stops with a 2R because the taking profit area is too tight. The price might hit your trailing stops and with one another candlestick it will hit your tp. But if I'm going to use trailing stops in the future, I will make sure that my reward when it hit the tp is 5r above.
Aside from that, I don't think indicators really effective because they are only telling you what happened in the past. But the only indicators I usually use is the volume and the RSI. So if you're going to use it make sure you have backtested it.

A good effort and technique and I will try to apply it too, sir, so that my trading can be more optimal in the future.

We have different strategy. My only advice to you if you are going to apply it to your strategy is to backtest it. If you do, you will know if all the things that I've said works for you. Don't use it directly with a live account because it will be difficult for you since it needs adjustment. Sometimes, because of an excitement you can't wait to use it immediately with a real funds but trust me, it's worth it if you backtest it first.

[Stuart]

I have been watching this trading tool for a while, and it serves very well to safe keep profits made, though, not reaching the ATH at the very point the price is reached. Trailing stop has a very good role to play in this bullish market trend, with a close look using trailing stop, when the market is experiencing price correction, it triggers the cut out so as to safe keep the profit made so far. And as a good market analyst, it will help give a good entry point to buy during the correction.

[pawel7777]

I did set it up eventually and regretted it. It got triggered during the recent, unexpected dip. Maybe I could've set a higher trailing offset, but too late for that now.
I did re-enter by buying back at a higher price, but sometimes it's better to accept a small loss than miss out on a bigger opportunity.
Live and learn.