lbranjord
Well-known member
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Hey all,
I'm sharing a trailing stop loss with you. The ones offered by brokers are pretty crappy. Some of the coded ones are probably decent but I don't use them. This is a manual stop loss anyone can use and it works well.
During a trend, set them outside the last bar that went in your favor. So in an uptrend, put the stoploss outside the last Bullish bar. In a downtrend, put it outside the last bearish bar.
It's very simple, bordering on common sense, but how many traders really have a lick of that nowadays? That's not a slam on the new traders, but it is a slam on some of the serious ones.
This should help. See the example:
I'm sharing a trailing stop loss with you. The ones offered by brokers are pretty crappy. Some of the coded ones are probably decent but I don't use them. This is a manual stop loss anyone can use and it works well.
During a trend, set them outside the last bar that went in your favor. So in an uptrend, put the stoploss outside the last Bullish bar. In a downtrend, put it outside the last bearish bar.
It's very simple, bordering on common sense, but how many traders really have a lick of that nowadays? That's not a slam on the new traders, but it is a slam on some of the serious ones.
This should help. See the example:
