would have gotten out at 1773.90 if I didn't move that stop up...which is about 17pts of additional profit left on the table...
It's become my experience that leaving the initial stop in place and finding another way to exit is the best way. Trailing stops are crutches. But old habits die hard.
That's why you test. That's why this thread exists.
For the remainder of this test, the initial stop will remain untouched.
This may seem rash based on one trade...but it's something I've been mulling for a while...my automated system doesn't use a trailing stop...it's also a time-based exit of sorts.
Time based exits allow you to capture way more profit. There is no predetermined exit price...
This kind of makes sense in a way. You're already incorporating plenty of uncertainty in using an initial stop loss. You want to put the additional burden on yourself of being correct about an exit price?
I'm not that good...are you?
Taking away the burden of trying to figure out an exit price and just letting the market roll along (as long as your initial stop loss isn't hit) provides the best way to "let your winners run"
Last edited by PaceAdvantage; 10-19-2022 at 04:12 AM.
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