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Trailing Stop or Take Profit?

  • #1
  • Quote
  • First Post: Nov 18, 2006 3:25am Nov 18, 2006 3:25am
I am curious about something. Does anyone use the trailing stop as a means to take profit? Or do you use it in conjunction with a Take Profit? When you run with the market, which strategy should one go with?

thanks.
  • #2
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  • Nov 19, 2006 11:09pm Nov 19, 2006 11:09pm
Trailing stop is employed occasionally. When at night you want to receive some more pips in unpredictable market.
Prof Herman
  • #3
  • Quote
  • Nov 20, 2006 12:30am Nov 20, 2006 12:30am
If you plan to use a trailing stop make sure its at least 10 pips out. Otherwise it will get picked off pretty quickly. If you notice the market swings to get these stops and then continues on in the direction of the trend.
  • #4
  • Quote
  • Nov 20, 2006 7:26pm Nov 20, 2006 7:26pm
I do not use a trailing stop less than 40 pips. I had better use OCO Limit and Stop order (you call Limit "take profit")
Prof Herman
  • #5
  • Quote
  • Nov 21, 2006 12:40pm Nov 21, 2006 12:40pm
I am facing a problem with metatrader trailing stop.

When i set trailing stop it auto fix at 30 trailing stop. It cant be delete of change to other value. Do anyone have any idea on this? I am using it demo account. Try to delete and change but it back to 30 trailing stop.

Pls advice, thank you.

PS: sorry vder use your thread to ask another question.
  • #6
  • Quote
  • Nov 21, 2006 2:20pm Nov 21, 2006 2:20pm
I personally use all, a trailing stop, a take profit and a stop loss. I cover all my basis. I look to lock in profits and ride the trend for big gains. Move my stop loss as I go. My personal opinion of course.


I am curious about something. Does anyone use the trailing stop as a means to take profit? Or do you use it in conjunction with a Take Profit? When you run with the market, which strategy should one go with?

thanks.
  • #7
  • Quote
  • Jun 6, 2015 5:01am Jun 6, 2015 5:01am
Quoting Jacgyc
I am facing a problem with metatrader trailing stop. When i set trailing stop it auto fix at 30 trailing stop. It cant be delete of change to other value. Do anyone have any idea on this? I am using it demo account. Try to delete and change but it back to 30 trailing stop. Pls advice, thank you. PS: sorry vder use your thread to ask another question.
Hi Jacgyc,

First step, right-click on your trade position, and set trailing stop to 'None'
Then right-click on your SL level, Cancel the Stop Loss. Your SL will be cleared, click OK.
Now you may set your new Stop Loss and then set your new trailing stop size.

There is no difference way for demo or real account.
  • #8
  • Quote
  • Jun 6, 2015 7:36pm Jun 6, 2015 7:36pm
I'd say it's either:

-set SL to breakeven + TP

or

-trailing stop only


I prefer the first one.
  • #9
  • Quote
  • Jun 7, 2015 12:20pm Jun 7, 2015 12:20pm
I use both, first thing is to lock your trade when it is in reasonable profit. Don't let market take back a winning trade from you. Another good thing is to close some position of your trade, this will guarantee some profit in your account even if market reverses to hit your BE.
  • #10
  • Quote
  • Jun 8, 2015 1:40am Jun 8, 2015 1:40am
reactivate a nearly 10 year old thread
  • #11
  • Quote
  • Jun 8, 2015 3:45am Jun 8, 2015 3:45am
Quoting mvp77
reactivate a nearly 10 year old thread
I wondered why vyder has avatar of an old video game

He probably has familiy and job now..
  • #12
  • Quote
  • Jun 9, 2015 1:53am Jun 9, 2015 1:53am
I will go with take profit as it is better than trailing stop. Normally I don;t use any take profit but if I have to choose between these two factors then I will go with take profit option.
  • #13
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  • Jun 10, 2015 4:18pm Jun 10, 2015 4:18pm
i like simple TP/SL, win or loss, more clear
  • #14
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  • Jun 11, 2015 2:55am Jun 11, 2015 2:55am
As for me, the SL/TP should be set in any case. But if you need to go somewhere and you are not sure about strenght of the trend - set Trailing Stop.
  • #15
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  • Jun 11, 2015 7:08pm Jun 11, 2015 7:08pm
Depends on situation, but trailing stop to let trade run after taken halv profit
  • #16
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  • Jul 17, 2015 2:33am Jul 17, 2015 2:33am
I use both in conjunction. I have an initial stop that I adjust to breakeven as the trade moves in my favor and I have multiple TP as I scale out of the trade.
  • #17
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  • Jul 17, 2015 4:12am Jul 17, 2015 4:12am
I use both..the important thing is to get 1st TP hit
FXerha
  • #18
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  • Jul 17, 2015 1:12pm Jul 17, 2015 1:12pm
I prefer take profit to trailing stop on high volitile pairs, because TS will be hitted easily by market itself or broker...
  • #19
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  • Jul 17, 2015 2:44pm Jul 17, 2015 2:44pm
Definetly none of them, if you are going to trade during news or before market close. Brokers usually like to manipulate such staff.
  • #20
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  • Jul 18, 2015 7:56pm Jul 18, 2015 7:56pm
I prefer to use take profit but in case of a trending pair we can always use trailing stop and moving to breakeven and feel relax.
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