Plutonite's Dynamic Trailing Stops
Hello everyone,
We all have a dream: to be able to keep the profits we make in trading, complete every run, and protect ourselves from whiplash.
As we all know, it is easy to enter the market, but it is usually difficult to exit the market reasonably, so in order to protect their profits, many people will use trailing stop loss (that is, the stop loss where profitable long positions move upward and short positions move downward), but they are still dissatisfied with the simplicity of this method, resulting in the loss of most of their profits.
As a possible solution, I designed this system that I would like to share with you. I will not discuss how to enter the market, only how to exit. There is no T/P, only S/L value, which we define as:
"A number of pips below the closing price of the last candle and we will terminate the trade"
Now, once we enter the trade, we will actually change the size of the stop loss by a simple calculation at the close of each subsequent candle. I'll stop at this post as there are several options available at this point (ATR..etc.) and all suggestions are welcome. My own calculations are in the post below.
We all have a dream: to be able to keep the profits we make in trading, complete every run, and protect ourselves from whiplash.
As we all know, it is easy to enter the market, but it is usually difficult to exit the market reasonably, so in order to protect their profits, many people will use trailing stop loss (that is, the stop loss where profitable long positions move upward and short positions move downward), but they are still dissatisfied with the simplicity of this method, resulting in the loss of most of their profits.
As a possible solution, I designed this system that I would like to share with you. I will not discuss how to enter the market, only how to exit. There is no T/P, only S/L value, which we define as:
"A number of pips below the closing price of the last candle and we will terminate the trade"
Now, once we enter the trade, we will actually change the size of the stop loss by a simple calculation at the close of each subsequent candle. I'll stop at this post as there are several options available at this point (ATR..etc.) and all suggestions are welcome. My own calculations are in the post below.
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