Hi.
I am really new to trading. Could anyone tell me how to use trailing stop?
Some example would be appreciated.
Thanks
Hi.
I am really new to trading. Could anyone tell me how to use trailing stop?
Some example would be appreciated.
Thanks
accessibility of automatic trailing stop depends upon your broker.Originally Posted by ;
1 Attachment(s)It's a manual system but that I like to use it to put stops as price movements.Originally Posted by ;
I am trading the Knife system (4hr chart) but once things get moving I change into 1 hr or 30 min chart and normally adjust my S/L to about two PSAR points away in the indior's current actual spot. I also look at Price Action to determine how far to trail my cease if I want to move to break even or minimise possible loss.
It is also quite nice to get confirmation that your intended trade is growing. By that I mean using the Knife you are occasionally looking 1 or two candles beforehand for an entry and due to the manner PSAR works (price time) if the PSAR spots are getting progressively closer to real price without a realistic prospect of you hitting your buy or sell things, I might think about moving on a different pair.
If you've not used this before attempt the default setting (0.02, 0.20) prior to playing around. Mine are set to 0.05, 0.50 as this was exactly what I was planning to use to put in trades until I came to my senses and analyzed the Knife Method. I like to observe the PSAR though. It's the only indior on my 4 hr charts.
Peter
How ru doing utilizing the grid. . .Just wondering what is is and how to find out...I am a nebie ,,,can not u tell
Originally Posted by ;
Hello alsup (incidentally is that your birthday 1955 )Originally Posted by ;
The Knife is one of the approaches covered in the James Group Private Forum.
You could join, dive right in and start trading BUT I'd advise you to look around the free area particularly here
https://www.forexforum.co.za/trading...g-freedom.html
There is a load of things in there which are going to produce a whole load of difference into your trading once you begin.
I will warn you now (from one newbie to another) you MUST have patience. If you try to run before you walk you'll end up losing money faster than you think. Everybody's idea of being a newbie is different so I apologise if what I've just said sounds patronising but the entire essence of this forum is to stop people getting hurt or hurting themselves.
I can't clarify the Knife since the approach is in the paid-for place, but it's the work of serious, time-served traders, who have discovered a thing which minimises the risks, and that's all we could ask.
Take good care and ask as many questions as you like, somebody will step up to the mark and provide you the ideal answer (even in the event that you don't understand it first time around .
Pete
Hello
A question from a newbe!
Can someone clarify what a parabolic SAR is, how it is calculated and how to pick upon the parameters. And do many of you guys use it as a trailing stop ... I plotted it ... it seems pretty good as a trailing stop however a bit spikey ... is it smoothed?
Many Thanks again
Paul
Hi PaulOriginally Posted by ;
Click here http://stockcharts.com/eduion/Indior...ic_ParaSAR.htm
Take a read and then come back and re-read my earlier post
https://www.forexforum.co.za/general...ly-target.html
I will help all I could however put it on your chart first and attempt to understand exactly what it's telling you. As far as I know not many people use it for trading signs but is Great for fashion confirmation and monitoring stop settings
Peter
Trailing stop way, reserve your profit! I see, few traders are using trailing stop trading instrument instead of stop loss! Although I use the two of them but until today stop reduction is my 1st choice! For NFP news trading, I always love to use trailing stop, because market moves in 1 way during NFP news!
When trail-stopping, I always use the past confirmed peak/valley from the D1 chart ...