I like to move my stops halfway through the move. It's important to remember that every trade won't work out the way u think but its always better to take some profits than to walk away with nothing. Again, reminding everyone that something is better than nothing. IMO
@antiguannbarbuda3088
3 жыл бұрын
I learn this the hard way lmao
@accountramerame
2 жыл бұрын
+1
@bellaolum9768
2 жыл бұрын
I agree
@brucewayne8322
2 жыл бұрын
facts thinking in probabilties over a series of trades
@naquonfreshmoney
2 жыл бұрын
Do you set an alert for the halfway point of your take profit to signal you to move your stop loss? Or have you every placed two trades and split the risk one being set halfway?
@MalakShelomohTrading
3 жыл бұрын
I trail my stops, I get stopped out and I simply reenter the trade if it’s still looking good.
@MalakShelomohTrading
3 жыл бұрын
@BAYLIE SYMMS Secure the money.
@MalakShelomohTrading
3 жыл бұрын
@rico yungboy 401 Make some bank, then make some more
@doicam5202
3 жыл бұрын
this sound rational but you have to look at the chart all the time
@MalakShelomohTrading
3 жыл бұрын
@@doicam5202 As we should if we’re intraday trading if it’s swing trading it’s not a necessity.
@creolecajun9988
2 жыл бұрын
Try .50 cents trail stop
@HimboJimbo
4 жыл бұрын
Once price moves halfway to TP, I'll move my stop either to break-even (if commissions and swaps are low) or a few pips in profit to cover fees for a 100% discounted loss 😁
@SptmbrsFinest
4 жыл бұрын
I’m not a pro trader by any means but you could also twin trade. Place 2 orders one with a TP, one without. Let the trade with a TP do its thing while you trail the other. Still consider risk management. If you trade 2% of your account at a time do two 1% trades.
@amazonbhatia2301
3 жыл бұрын
Sounds nice, i will try
@TheUnicornQueenT
2 жыл бұрын
How can you place 2 seperate orders for the same pair? When I've tried to do this it averaged my entry prices and merged the quantities 2 together.
@bellaolum9768
2 жыл бұрын
Great idea, I was of the same idea of opening 2 then letting one get to TP and the 2nd one maybe halfway to TP.
@bellaolum9768
2 жыл бұрын
@@TheUnicornQueenT You can take as many as you wish, provided they are in the same direction they won't cancel each other out
@TheUnicornQueenT
2 жыл бұрын
@@bellaolum9768 what I was saying is when I take multiple trades in the same direction, the exchange averages the price so it's still only 1 position. What I've been doing is closing 75% at my TP1 and just watching the trade exiting small portions as I go along and moving my SL to breakeven. So trailing my SL. But I have not found a way to have two or more separate trades that show up as separate positions in the same direction.
@exchequerinvestmentscc9112
4 жыл бұрын
Something is better than nothing right.....Use the trailing stop loss...you have nothing to lose and everything to gain. Period.
@gguybr
3 жыл бұрын
Hmmm. 🤔 There's always a tradeoff. Once you're stopped out you might not get back into a winning trade because you won't know 1 if your strategy would get you to do that and 2 if it would, if the next one would be in fact a winning one. Remember that you reenter a trade your next break even point might be even farther away. !!!
@mindbogglingmysteries
Жыл бұрын
I usually take my first take profit at 1:1 for 50% of the trade. Bring my stop loss at break even to make sure i loss nothing and guaranty a win. At 1:2 i take another 25% out and add a trailing stop loss from there to where ever the trade takes me.
@kentburgdorf3666
9 ай бұрын
I like that,I’m gonna try that. Thanks.
@juniormarshallhastings723
4 жыл бұрын
6:50 I would use the trail stop strategy by moving my stop loss up to 50% or 75% away from the entry price, just in case price doesn’t reach 100% at take profit and starts to move in the opposite direction returning to where made my entry.
@sagarjaid1800
4 жыл бұрын
Your Channel is the only channel is the best on KZitem
@MrTtaakk
3 жыл бұрын
I wasn't aware you could trail your Stop Loss, figured once you excute your trade you're not able to make any changes at that point. I'm still learning.
@wilsoncarter8688
3 жыл бұрын
You can trail your Stop Loss by modifying your trade. Press and hold on an active trade and you’ll see the modify button.
@Kccung
3 жыл бұрын
I have just started learning for me what make sense is to always make sure I want to be sure that I at least make close in profit wettere it’s 1 Cent or 20$
@yulmelo8909
2 жыл бұрын
It is a lot better to have a locked-in profit than break-even or nothing at all. So trailing Stop Loss is much better.
@Almightykingtay
3 жыл бұрын
I think and agree it’s all about preference but trailing will at least get you a few pips just in case the market reverses.
@emmanuellebon7810
3 жыл бұрын
you can't put your trail stop anywhere you want! And it is not about moving it at 50% or 75% of your sell target neither. If used, the Trail stop has to be well positioned, above a resistance level for example or under a support. Price usually re-test those levels
@andreetapia9437
3 жыл бұрын
One question. You take partials?. Or just move your SL and waiting if it returns . The market leaves you with 100% of that level you put you SL?
@emmanuellebon7810
3 жыл бұрын
@@andreetapia9437 I always take partial profit (usually and 2 or 3 partials) But I also move my SL, to make sure to break even at least
@jonmanilenio
Жыл бұрын
I'd rather make some money than nothing. Hitting TP is nice, but it's more realistic to cut losses, IMO.
@saniabdullahi1491
Жыл бұрын
can you move stoploss to BE after taking partials?
@abretzner
4 жыл бұрын
Simple and objective short lessons, thanks a ton !
@salakufaitumeleng3037
3 жыл бұрын
You are very good teacher🙂
@solaaderogba491
4 жыл бұрын
Your answer is mine. Can you please make a video on how people can use trailing SL on their trading terminal?
@curtleykedukwakwa5076
2 жыл бұрын
Thanks, Nick for clearing this out for me.. I always wanted to do this but I feared it would jeopardise my risk management. I shall approach this concept with an open mind. Thanks for the insight. 👍👍👍
@marounaoun9413
6 ай бұрын
Your explanation is very helpful. Thank you!
@galantsoldier9258
3 жыл бұрын
trailing stop loss is the best way in my opinion
@armyrules_9
3 жыл бұрын
Every decision have its own risk & reward.. lose, small or big profit.. its a subjective & totally depend on the traders approach & behavior
@ezeokafornwachukwu7763
Жыл бұрын
By and large, what matters most in Forex is being consistent with an approach one is comfortable with
@TheMrChristify
4 жыл бұрын
Hi Nick. Love watching your videos. I think it is up to the individual and how that individual interperates their indicators. It should be a flowing decision.
@weekendgrl
3 жыл бұрын
I take 1/2 of my position off and place the remaining lots to BE or in profit. Depending on the strength of the move.
@arehan5888
10 ай бұрын
What about automatic trailing stop ?
@4threvolution_
4 жыл бұрын
Thank you bruh I just got stopped out of a trade in profit, missed out on a solid 700 pips
@chainjail924
4 жыл бұрын
yeah never move stop loss in breakeven and i want to see you lose your account aha
@peacedaily6541
Ай бұрын
I trail stop most especially when i know a high impact news will soon be released
@Mr_RHO
3 жыл бұрын
I only exit a trade with TSL
@kabandajamir9844
Ай бұрын
So nice thanks sir
@FerbGsta
4 жыл бұрын
I Always use just 10 pip stop and go for 20 pip tp after 15pip my trailingstop start
@erwinavila3165
2 ай бұрын
Thanks nick i am newbie
@MPlain
4 жыл бұрын
I trade 2 ways. I am either looking for hard TP as i expect the move to only go so far and crap out... so i set my TP where i expect it to do that. These are short term scalping type trades where i only expect the market to pay off 10 to 20 pips. Usually within 2 to 3 hours. If i am trading a break or something more significant then ya i am using trailing stops.
@mattmaloney2445
3 жыл бұрын
Getting stopped out a few pips in profit is exhausting, you need to trust the market, I like to look at the weekly in terms of direction then 4 hour candle as an indication of entry. 3 black crows or 3 white soldiers bullish or bearish pins, i like to enter on a retracement to support and then place stop loss below 30 minute support, then move to a few pip take profit once the price has passed new support.
@nyc7068
Жыл бұрын
Sir sometime trailing stp hit after gone what i do
@carcer149
Жыл бұрын
Hey Nick, great video, Do you use the TSL in each trade. I'm newbie and I heard a lot of professional traders use it all the time... Thanks....
@andreetapia9437
3 жыл бұрын
One question. You take partials?. Or just move your SL and waiting if it returns . The market leaves you with 100% of that level you put you SL?
@devernsimmons431
3 жыл бұрын
Simple. Explanation. valuable information.
@christinecomins4877
2 жыл бұрын
Awesome video! Makes alot of sense!!
@andrelawrence3397
Жыл бұрын
I’ll move both if it comes to the test
@raushawnrender495
3 жыл бұрын
I trail my stops most times after about half, but also have the problem of not always letting my trades run to full TP
@ibevictor8136
4 жыл бұрын
It all boils down to preference
@PeakyMNB
25 күн бұрын
Funny that the people who likes to trail their SL. Also like to trail it in the losing direction lol
@larryg4804
3 жыл бұрын
the explanation was very good
@manosadennism.8883
3 жыл бұрын
Very informative...thank you
@miassewarllys2207
2 жыл бұрын
Yes I will
@markmerlin3424
Жыл бұрын
Better locking little profit than to loose money to coz either way that wasn't your money, it's the markets money.
@anshu1184
Жыл бұрын
I put My Stoploss on breakeven After 1:1 RR
@rejeanroberge2680
4 жыл бұрын
Is it possible to trail stop on iPad with mt4
@samalix2236
4 жыл бұрын
Yes I am also trail stops
@brianjohnmuthaka7720
4 жыл бұрын
learnt alot..thanks..
@kakanyerodeogratious580
2 жыл бұрын
Hello amazing knowledge
@TRADEWITHHOV
10 ай бұрын
400k subs❤
@evelyncole3679
3 жыл бұрын
Thanks
@DreRaphael
4 жыл бұрын
Thanks Nick
@jeheskielsunloy3881
4 жыл бұрын
i think if you want to be a discipline trader then you shouldnt trail stop loss, but then again it depends on preference
@TraderNick
4 жыл бұрын
To each their own!
@andreetapia9437
3 жыл бұрын
@@TraderNick One question. You take partials?. Or just move your SL and waiting if it returns . The market leaves you with 100% of that level you put you SL?
@ashoknagvenkar
3 жыл бұрын
You must trail for small profits
@petereastman2663
4 жыл бұрын
Did I read some thing about 40%?
@salakufaitumeleng3037
3 жыл бұрын
I prefer trail sl
@bagussatrio7970
3 жыл бұрын
Auto Subscribe..👍
@gershommatobwe5542
4 жыл бұрын
Awesome content
@deleayinde6661
3 жыл бұрын
I was expecting a demonstration on how to do it.
@gguybr
3 жыл бұрын
I suppose the only answer is make your own rules for that and backtest them 😥
@blackmessiahtv7472
4 жыл бұрын
Genius bro
@rosariodipetta
4 жыл бұрын
good job
@goldmindkhan6998
4 жыл бұрын
forex want a time machione , i am waiting for time machione then i work in forex.
@aplusmerchant2281
4 жыл бұрын
lol
@billybob6397
Жыл бұрын
Legend Trail stops,I for when you want to go to bed!!! Otherwise I'm happy to monitor the trades
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