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Quote from: jeraldskie11 on Today at 12:33:39 PM

Quote from: NIrish on June 16, 2023, 11:06:26 PM

Is anyone using trailing stops when taking profit from a pump and if so what percentage do you trail?

Previously, I used trailing stops in my trades. As I understand it, a trailing stop is a stop loss in the sense of profit, hence it should be said "stop gain" Cheesy

. This is to ensure that you will make a profit, no matter how tiny. If you understand how to define the market structure, determining where to position your trail stop should be simple. When I was still using trailing stops, I always placed them in the invalidity zone because I believe that if the price reaches my trailing stop, the trend will reverse.

You know tgayt we cannot achieve two things at a time in some conditions using a stop loss approach on trailing stop is the perfect way of avoiding an excessive loss at the cause making your trade and in the same line you will have a stop in your profits gain because you have avoided the risk in using a stop trailing approach to remain on a safe zone and you can't expect profits coming that same direction.

When you're longing a position and then move your stop loss above the buying price, that's what we call a trail stop. And because your stop loss is higher than your buying price, if the price falls and hits it, you still get profit, especially if your profit exceeds your trading charge. We all have various perspectives on trailing stops; some see them as advantages, while others see them as disadvantages. That is why we cannot make others believe in you.