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Registered User
Joined: 7/26/2005
Posts: 109
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I use manual trailing stop. I put my stop at the low of the previous day minus .05. My Broker offers a automatic trailing stop. Is there a better way to use this automatic trailing stop then how I do it manualy. This might be a great way to get gains when the market makers shoots that stock up at the open. I am a swing trader.
Thanks
WJD
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Registered User
Joined: 12/19/2004
Posts: 10
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Just below the previous days low is where everyone puts their stops. Floor traders and MMs know this and they exploit this info. Look a few days out (3 day lookback) or the last swing low for placement and adjust your size for risk accordingly. Just my opinion.
-adina63
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Registered User
Joined: 10/7/2004
Posts: 2,126
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If you are daytrading always underneath of the obvious support if you go limit and there is not guarantie that the MM won't shake you off should he decide to. It is best not to show your stop by keeping it mentally and executing at market when the time comes. If everytrader did that the MM would loose a little advantage on shaking ignorants.
Give them hell.
If you are a long term investor pick your risk/reward ratio and set your trailing percent
Bigblock.
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