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Trailing on Last Top Bottom

What is "Trailing on Last Top Bottom"?

  • This concept involves positioning the stop-loss orders at the most recent tops or bottoms in the price action.
  • The goal is to lock in profits while allowing trades to run as far as possible in the direction of the trend.
  • It provides a mechanical and systematic approach to managing trades without having to watch charts constantly. 🎯

    • How It Works

  • For long positions, the stop-loss is set at the last formed bottom, whereas for short positions, it sits at the last formed top.
  • This method adjusts the stop-loss automatically as new tops and bottoms are established, ensuring that traders capture profits while maintaining risk management.
  • When a trade moves favorably, the trailing stop will follow, providing additional protection against market reversals.

    • Implementation in Trading Systems

  • Many trading robots and indicators utilize the "Trailing on Last Top Bottom" approach to enhance their performance.
  • An example can be found in automated systems such as the EASY Trendopedia and EASY Scalperology bots that efficiently manage trades using this trailing stop strategy.
  • These systems rely on effective indicators for identifying tops and bottoms, such as the AW Flexible Fractals indicator.

    • Advantages of This Approach

  • Minimizes emotional decision-making, as the stop-loss orders are automatically adjusted based on pre-defined rules.
  • Gives traders the ability to capitalize on significant market moves without micromanagement, allowing better focus on analysis and strategy. 🚀
  • It may lead to improved overall profitability by maximizing the potential gains of each trade while managing risk effectively.

    • Considerations

  • It's important to regularly review and adjust the settings for the trailing stop to align with changing market conditions.
  • Traders must be cautious of false breakouts, which can trigger stop-loss orders prematurely.
  • Combining this method with other indicators can enhance signal accuracy and reduce the likelihood of losses due to market noise.

    • User Feedback

  • Many users of trading robots that incorporate this method report satisfaction with their improved risk management and profit locking mechanisms.
  • Positive reviews emphasize that automated implementations have optimized their trading experience, guiding decision-making effectively. 😊
  • Some users also highlight the importance of customizing settings based on trading preferences to achieve the best outcomes.

    • Is the 'Trailing on Last Top Bottom' strategy your golden ticket in the Forex world, or just another fleeting trend? Strap in as we peel back the layers of this intriguing trading system that promises more than it might deliver. With mixed reviews on effectiveness and usability, ...

    Release Date: 31/03/2023

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