Trailing Stop Sell for Profit Taking
Trailing Stop Sell for Profit Taking
Anyone using trailing stops when taking profit from a pump and if so what percentage do you trail??
For example I sold some $QNT today as it pumped off the back of positive news.
I had no idea how high it would go so trialled a 1% trailing stop.
Obviously I didn\’t get the peak breakout of £116 but did sell at £114ish as the pump stalled.
Lashini Fernando Answered question August 6, 2024
Mine depends on my initial stop loss, which is in most cases at 20%, but I don’t like trailing stops
The strategy is good if the market is trending quite well, but I prefer to follow the rules and not wait for the coin to pump to the moon so that I can take the biggest profit. Once my target profit hits, I exit in most cases without thinking twice.
Lashini Fernando Answered question August 6, 2024