So I have been tinkering with the Oanda Demo. And have discovered that this business is really a slow process, but then again if I would get up in the morning when most American and European traders are online I might find a some what faster market.
I currently have a position open going short with a Take Profit only. Thinking I should have added a Trailing Stop lose. But I am still trying to figure the difference between a Trailing Stop Loss and a Stop Loss. They are both the same thing, but one moves and the other doesn’t. So if anyone has any insight on this subject please let me know.
I would advice to always have a stop… doesn’t Matter if it’s fixed or trailing. You already know the difference.
Personally I only use trailing stop when market is running fast in my favor. Like if price is very impulsive and I’m in profit and happy… for example 30 pip profit and TP1 reached… I can set a 10 pips trailing stop and
See how much more the market Will let me have. I know Minimum I have 20 pips locked in.
Hellooo! It’s been a while since I last used a trailing stop. It used to be part of a strategy I tried out.
But basically, trailing stop losses are more sensitive to price movements. In my experience, if the price is moving in a favorable direction to your trade, trailing stops let you rake in more profits.
Here’s a link just in case my explanation is a bit confusing!
this type of trading topic is more appropriate for broker discussion, it according to me
agree , but this is not a major issue at all.
Were you successful when you used it?