Thread: Trailing Stop

Please I desire to know how to effectively use the trailing stop.
Thanks

Hello riseandshine, and thank you for your post! On behalf of myself and everyone here at FXCM, welcome to the forum community!


Where can I find more information about trailing stops?

Please click here (FXCM Trading Station II FAQ) for more information about how you can set up trailing stops from the Trading Station FAQ (FXCM Trading Station II FAQ) section of the forum. Please click on the links below for some articles on trailing stops directly from DailyFX.com that I think you will find very helpful:

How Trailing Stops can assist with Trade Management

Trailing Stops Based on the Two Day High/Low Strategy

Manually Trailing a Stop

I hope you enjoy those articles!


What is DailyFX.com?

DailyFX.com is the free educational resource that we provide for both demo and live clients alike. Here you can find the latest information on fundamental analysis and technical analysis directly from our DailyFX research team. You can even see our analysts sentiment in the market by clicking here.


Highlights of the DailyFX Forex Market News:

• Top Movers - A useful tool to find out which pairs have seen the biggest movement for the day, week, and month.

• Weekly Columns and Special Reports - Each article is tagged, letting you know what day the report is scheduled to update.

• TV and Video - Extensive library of video updates growing every month.

Highlights of the DailyFX Technical Analysis:

• Technicals Home - Overview of important technical levels for each currency pair, as well as trend and current volatility.

• Candlestick Summary - Identifies developing candlestick patterns. Updates tend to be for patterns developing on longer time frame charts such as daily and weekly charts.

• Daily Technicals - A table listing the current bias for the major currencies using Elliott Wave Analysis. If you click on a currency, the appropriate chart and analysis will appear.

What other resources does FXCM offer that can help me to hone my strategy, or develop a strategy of my own?

Here at FXCM we always have our clients best interest in mind. That is why we have an abundance of educational resources in hopes that it can eventually help clients become a profitable traders. Here are some more resources that we have to offer from DailyFX PLUS:


DailyFX PLUS Trading Course:

Live clients are entitled to unlimited access to our DailyFX PLUS trading course which comes complete with:

• 60 video lessons for you to choose from with information on technical indicators and different strategies.

• Over 15 hours of live instructor help webinars each week. During these live webinars our instructors will go over a topic for about fifteen minutes and then answer any questions you may have in real time. This is an excellent opportunity to have your questions answered about trailing stops in real time.

• Community forums to get feedback, ask questions, and share what you're learning.

• Optional homework assignments to test your understanding and to see how well you are retaining the knowledge.

I encourage you to go through all of the video lessons if you haven't done so already, and to attend the live webinars whenever possible. You can access the trading course from DailyFX PLUS by clicking here and logging in with the same information that you use to log in to your live account. Please click here for access to the LIVE Trading Room with the course instructors.

For those who don't have a live account with us yet that's ok!

Please feel free to send me an email at julius@fxcm.com and I will be more than happy to set you up with a trial version of DailyFX PLUS.


Course Instructors:

Coupled with DailyFX PLUS, clients also have access to our mentorship program. In the program, you can communicate with the team of Trading Coaches 24 hrs per day 5 days per week. Our instructors can help you build a strategy if you need one or fine tune a current strategy you may be using. I highly encourage you to contact the instructors directly and tell them about the strategy you are currently using, what has been working, and what hasn't been working. This will put them in a good position to share their thoughts, and provide you with information/resources that will be beneficial to you.

You can contact the instructors directly at instructor@dailyfx.com


Please click here for more information regarding our DailyFX PLUS Trading Course and Live Webinars.


Thank you again for your post riseandshine! Please feel free to post with more questions or send me an email directly at julius@fxcm.com

Originally Posted by riseandshine

Please I desire to know how to effectively use the trailing stop.
Thanks