Just placed a buy at .9470 with a trailing stop of 50 pips and a SL of 1000 pips. I enjoy large stop losses because it is very unlikely to receive it unless we are in we pretty much reverse the trend.
After we are in the positive 50 pips the trailing stop will kick in to help lock in gains. My egy here is simple. I would like to remain in the trade as long as possible and keep in the trend as long as you can. When we get 100 pips in profit then I shall keep my trailing stop at 50 precent of profit pips before it gets struck.
Most of the time I shall make an adjustment to the trailing stop one or more times every day. For example tomorrow if the transaction is 100 pips in profit the tracking stop remains in place. If we are in 150 pips in profit then I move the trailing stop to 75 pips. In case it belongs to 200 in profit the next day then I go to 100 pip trailing stop. I will keep up this looking to remain in a long-term trade whilst staying in profit and at the trend.
I will not take profit and if the trend reverses or we wind up at a dip I shall wait till my stop will get hit and then I will be out of the commerce and hopefully tote a wonderful profit.
Stay tuned,
Jackie