I think it happens quite often that a position goes well at first but then it ends with SL.
Usually use Trailing SL with keep point after + 40-50 points (dax index).
A second exit can be good to have?
It still feels a bit boring when you have a win of 20 points for a while, but in the end it will be SL of 80-150 points.
How do you usually handle this?
You can let the trailing stop start earlier.
Your SL is your first (main) exit price. Your Trailing Stop is your secondary (second) exit price, do you need another one? At what price level?
Maybe you can add a third way to exit position by using a break even stop ?
hello everyone I am happy to see this topic because I sometimes encounter the same problem as bullbear. the trade is positive and finally closes losing …
in this example I use Nicolas’s prorealtime code:
trailingstart = 3.5 // trailing will start @trailinstart points profit
trailingstep = 1 // trailing step to move the “stoploss”
how to put trailing stop a priority?
EricParticipant
Master
What also happens often (for me anyway)
A take profit level act like a resistance and price stops 1 point or two before it hits and then gets stuck for a while and then turns down and hit the stop instead
When i trade manually and see this i try to close the trade before it turns down,
What do you think of this hypothesis …
The myriads of Algos running on any particular instrument have been optimised (not all on PRT, but many other Platforms also) and most Algo have used a best value in the past for Take Profit and Stop Loss?
If above then when the TP is hit and profits taken and price then moves in the opposite direction and slowly but surely that level features as a Resistance or Support Level on charts of the various Platforms.
Above could be why … price stops 1 point or two before it hits (Eric notes above) … and then reverses.
So above is why we need to regularly optimise TP and SL else we are using last months profitable levels that are not necessarily this months profitable levels??
Anyway a few thoughts … just felt like hypothesising! 🙂
