I have 2 positions on gold:
- Short term where I entered very close to stop
- Long term with a wider stop but not that wide
In the short term gold has really gone. I'll cut to the chase now I am trailing it with a $20 stop.
The price is going vertically, and often once it retraces it can retrace hard.
Maybe my $20 stop is too wide and I will give back profit.
Most traders lose money.
Precisely because rather than simplify their way of operating and be as disciplined as possible, seek solutions that are apparently very technical and professional with the help of indicators and oscillators, and put them on the chart making it very complex and cool to the eye.
The reality in economic terms is negative in...
I think I am one of the few who managed to code this with pinescript v3. Tell me if I'm wrong.
You can now request any strategy that you would like to have my Stop Loss / Take Profit System and I will create and publish it on TradingView.
The system includes a Trailing Stop and a Trailing Takeprofit with a % deviation.
For example if you want a...
Allows backtesting of different percentage Trailing Stops, with entries based on percentage based Trailing Buys.
On 4hr, 1.5% trailing stop, and 1.9% trailing buy worked best. On Daily, 4.3% trailing stop, and 1.9% trailing buy worked best. This version is for Longs only. Will write a Short and Long version next.
More chances for a bullish continuation, what is confirmed by a recent 1d, 4h price action, and important level zones
Buy stop: 1,43701
Stop Loss: 1,43551
1st target: 1,43851
A Time management and Money management must be applied to the signals.
Always have time stops in mind.
the trading stop (tsp) of (0.5%) in lower panel very well traces the spy, and bollinger band (20) in the upper pannel, together with MA(40, 70), MA70 is equivalent to MA(10) in daily chart (because 7 hours per day).
long spy when price above trailing stop, and sell when drop below tsp, be ware of double top, and false breakout.
Trailing position using parabolic sar.
I'm the fan of very tight stop losses, the negative side of it is that they are triggered a lot. But, in a long run it's easy to keep a positive account statistics and psychology wise it' very easy to overcome this occasions, as losses are never big.
I'm a day trader, and stop losses are so important in a short term...