Hey everybody new this forum and I have searched but I cannot find the answer. I do not know if this is something that I am just describing wrong so I'll see if anyone can help me
I'm wondering if any of the software's or trading platforms allow for a diminishing trailing stop, what I mean by this is the trailing stop would shrink after you get the certain levels you're looking for. let's just say originally I set it to a 2% stop loss, when it goes up to a 1% gain it shrinks my trailing stop down to half a percent to lock in all profit but still give myself a chance for a running stock.
I've been daytrading for a few months now and doing very well. But I have missed a couple run away breakouts by using OCO trades and taking my happy profit, while leaving the game early while the stock ran another 2-4%. I've searched for this but can't seem to find the answer so if anyone know of this feature on any of the trading platforms please point me in the correct direction.
Thanks for reading and any help anyone might have. Stay green my friends!
I'm wondering if any of the software's or trading platforms allow for a diminishing trailing stop, what I mean by this is the trailing stop would shrink after you get the certain levels you're looking for. let's just say originally I set it to a 2% stop loss, when it goes up to a 1% gain it shrinks my trailing stop down to half a percent to lock in all profit but still give myself a chance for a running stock.
I've been daytrading for a few months now and doing very well. But I have missed a couple run away breakouts by using OCO trades and taking my happy profit, while leaving the game early while the stock ran another 2-4%. I've searched for this but can't seem to find the answer so if anyone know of this feature on any of the trading platforms please point me in the correct direction.
Thanks for reading and any help anyone might have. Stay green my friends!
Does this trailing stop exist ??????
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