Is Trailing Stop Loss Better Than Stop Loss?
How can trailing stop loss be effectively utilized in trading Forex without incurring heavy losses?
Your expert and professional advice would be highly appreciated
Please read this: How to Set Trailing Stop Loss on MT4 and How Trailing Stop Loss Works
I don’t agree with automated trailing stop loss. But I like to move the stop loss further when the price moves toward the target. At least, moving the stop loss to breakeven is a good idea when the position is in profit equal to the stop loss size.
any form of stop loss is better than no stop loss. losing some of your account is better than losing it all. The biggest psychological hurdle is accepting you are going to take some losses. So be a man use a stop loss and stop running away from the possible loss.
Stop loss order is better than trailing stop loss, since it works only when the computer is open,the trader has to be infront of the computer .when the trailing stop loss moves.its difficult to know how many pips it should move .stop loss order is better.
Thanks Bimrembero4 for your answer. Once your trailing stop is activated, it would remain active even when your computer is closed or shut down
I’ve never used a trailing stop loss, so thanks for the information and advice.
Thanks for the good advice members.
I don’t use trailing stop , trailing stop trigers in most cases turn a profitable trade into a loss trade because if market price retrace against the position, it will trigger the trailing stop. I preferred to use stop loss than trailing stop.
If you’re using lower time frame and don’t have time to stay on your computer it better to set stop loss. Trailing stop loss is good when you have time to stay on your computer.you can remove your stop loss if you make some profit to secure your earnings.
I don’t use trailing stop in my trading pattern . What I use is stop loss and is better for me.
IN A NUTSHELL, THE USE OF TRAILING LOSS IS AUTOMATIC WHILE THE USE OF STOP LOSS IS MECHANICAL.
The type of stop is personal choice. Just remember to use one and form the right habit from the start otherwise you will keep pushing the boundaries and start losing more and more