anyone use trailing stops when trading Forex?

increasenow · Nov 27, 2009

anyone use trailing stops when trading Forex?...what is your initial stop and than distance and step for th TS?...advantages and disadvantages of using a TS? experiences with them?

increasenow · Nov 27, 2009

seems to me that really only useful when using say a 50 or more stop and than like 10 step and 10 distance?..thoughts?

increasenow · Nov 28, 2009

bump, yea even poke

Nexen · Nov 28, 2009

Trailing stops imply you don't have a clue as to what your targets should be or where price might go.

If that's the case, why take the trade in the first place?

Trader KGB · Nov 28, 2009

Quote from Nexen:

Trailing stops imply you don't have a clue as to what your targets should be or where price might go.

If that's the case, why take the trade in the first place?

Nonsense. If your initial target is already exceeded, no harm in letting the trade continue to run in your favor, locking in any additional gain with a trailing.

increasenow · Nov 28, 2009

Quote from Trader KGB:

Nonsense. If your initial target is already exceeded, no harm in letting the trade continue to run in your favor, locking in any additional gain with a trailing.

great point...anyone else agree?

Nexen · Nov 28, 2009

Quote from Trader KGB:

Nonsense. If your initial target is already exceeded, no harm in letting the trade continue to run in your favor, locking in any additional gain with a trailing.

Nonsense. If your initial target is exceeded it is naturally going to the next resistance point, and once again you know what the next target is. By using a trail stop you are just letting noise interfere with your plan.

Trader KGB · Nov 28, 2009

Quote from Nexen:

Nonsense. If your initial target is exceeded it is naturally going to the next resistance point, and once again you know what the next target is. By using a trail stop you are just letting noise interfere with your plan.

Price does not universally move from resistance point to resistance point.

Rare for me to employ a trailing stop after the target threshold was hit and end up dissatisfied with the outcome.

Nexen · Nov 28, 2009

Quote from Trader KGB:

Price does not universally move from resistance point to resistance point.

Rare for me to employ a trailing stop after the target threshold was hit and end up dissatisfied with the outcome.

Perhaps we have different definitions of resistance as in my charts and with my definitions, price most definitely travels exclusively, from pivot to pivot.

Trader KGB · Nov 28, 2009

Quote from Nexen:

Perhaps we have different definitions of resistance as in my charts and with my definitions, price most definitely travels exclusively, from pivot to pivot.

And you've never seen price reverse mid-pivot? If not, can I see your holy grail pivot calculations?