Trailing Stop Size During London Open

Trading Discussion
1

Evening All,

I trade the London open; typical trade duration can be as short as a couple of minutes through to over an hour.

I’m putting the feelers out in curiosity, what sort of size trailing stop do you use?

Thanks!
CP

2

It might help those able to answer if you specified which instrument you’re trading?! :smiley:

3

Good question! It would have helped if I’d started at the bottom and worked up hey!? :stuck_out_tongue_closed_eyes:

I trade Forex; I trade the Majors, most GBP cross and most Euro crosses.

4

Hard to say Mate
not enough information

depends on the instrument you are using
Your strategy
Your personal trading style
what’s happening at the time (RE Volatlity)

it’s not like asking “What’s your favorite move of the year”

5

Thanks Martin, fair points.

I’ve been criticised before for keeping my trails too tight so I’m rummaging around for what peers and others use. In the words of Mr Churchill ‘to improve is to change; to perfect is to change often’!

6

No Problem mate, i completely understand.
but it helps to ask more specific questions

let’s look at what you asked and let me give you some feedback.

Ok, Fair enough, Lets keep reading

Now… this comment tells us absolutely nothing at all
i mean you have not Mentioned

  • Which instrument you are using
  • You have not mentioned lot size

Mate, you could have put down 0.01 lots of GBPUSD And taken profit for 50 cents in a matter of 1 minute
or you could have put down 10.0 lots of GBPUSD During, say, NFP and collected $500 or even say $5,000 in a matter of seconds
this tells us nothing

  • You didn’t mention your account balance (even though i realize this is personal information) but it does help so we get an understanding of risk

  • You didn’t mention leverage on your account

all you basically said was
I Trade the European session
I Trade for a few minutes to over an hour

What sort of trailing stop should i use ?

you need to supply more information

You said TYPICALLY my trades last this long

it would be more helpful to say
-Typically, i trade this instrument , or these 2

  • Typically i use this much risk
  • Typically i put down this lot size
  • Typically i put my Take profit at this amount of pips
  • Typically i put my stop loss at this amount of pips

Now, if we know the instrument and it’s volatility we could give you a better idea of where to put a trailing stop so it doesn’t get hit all the time

hope that helps