Trailing Stops

[Rong]

Hi everyone.I have not used trailing stops before and I have a question. I was told to use the previous low as the trailing stop. My problem is if I put my stop on before the opening "in the morning" is the previous low the day before or if I put the stop on after the market closes is the stop the day before or the same day?It sounds trivial but it makes a big difference. Thanks.

 

[anouka]

Trailing stops are used to protect the benefits, using progressive exit level when certain levels are reached. What you basically do is move your T/S higher as you are making profit if you’re going long or lower if you’re shorting.

 

[Rong]

I get the idea of the trailing stop but what I need to know when is the previous day low they talk about

 

[TSGannGalt]

Quote from Rong:

I get the idea of the trailing stop but what I need to know when is the previous day low they talk about

When????

WHEN?????

WWWWHHHHEEEEENNNNNN????????

 

[Rong]

Thank you for the intelligent answer