I would like to have a discussion on the above.
I feel like mastering the above tool could lead to so much more success in trading, certainly would help my own.
I have known it for a while, but I exit my winning trades early far too often. I believe in banking profit, I think it is important, but then again, I still do not trench trade enough, however, learning to keep your winning trades running until they run out of steam is one of the keys to becoming a successful trader.
I am sure Tradesmarter has a blog with regards to trading rules, and he touches upon both trenching and letting successful trades run.
I would mostly like to talk about automated trailing stops, then ones where you input 2 values I think it is, a gap, and a stop. Something like that, its been a while since I have been on the platform. One forms the actual stop distance, and one value is the actual step maybe?
I understand how to manually trail stops, and I would preferably wish to do that, however, time may be an issue now, so need to understand how to automate the process successfully and efficiently.
So.....does anyone use this tool to great effect, and maybe even on a regular basis?