Who is using Trailing Steps?

[mjkidd27]

Playing with the trailing start & trailing step and wondering who are using these and what settings you are finding to work best. When trading manually, I like to move my SL to profitability as soon as I see price take a stair step away and show me a higher-low in an up trend or a lower-high in a down trend. The technique preserves winners once price has moved away in our favor to at least the breakeven point and then trails price movement as it shows it has the intent to continue the trend.

Is anyone using the GFX trailing start and step in a similar way but automated? I understand the bot won't be able to see price movement in stair steps however, has anyone seen a step of xx pips/points that is working well for them?

 

[Vinitrader]

Hi there! I did sometime... The problem I found was that if you leave the robot alone some time (like 1 week or so) and you don't check trend changes, your account develops a huge floating money. Choose pairs that trend consistently (USDJPY, AUDCHF have worked for me)

https://galileofx.community.forum/threads/profitable-settings-and-backtesting.134/post-2731

https://galileofx.community.forum/threads/profitable-settings-and-backtesting.134/post-2925

 

[mjkidd27]

Hi there! I did sometime... The problem I found was that if you leave the robot alone some time (like 1 week or so) and you don't check trend changes, your account develops a huge floating money. Choose pairs that trend consistently (USDJPY, AUDCHF have worked for me)

https://galileofx.community.forum/threads/profitable-settings-and-backtesting.134/post-2731

https://galileofx.community.forum/threads/profitable-settings-and-backtesting.134/post-2925

Thank you @Vinitrader I'm currently backtesting this technique to see if I can find a clear benefit to using it.

 

[Vinz]

Thank you @Vinitrader I'm currently backtesting this technique to see if I can find a clear benefit to using it.

how is your testing sir

 

[Vinz]

we are about to release our version 2 and that is reaaly good

 

[terrabola]

we are about to release our version 2 and that is reaaly good

Am I correct in understanding Pro users will receive version 2 at no cost?

 

[mjkidd27]

how is your testing sir

Testing is going very well! My demo account has grown over 81% in 30 days! Looking forward to Version 2. Do we have a list of the major changes?

 

[Brando]

we are about to release our version 2 and that is reaaly good

Hopefully this V2 will help a lot in our trading,so far my pro v1 did not work well with me as of now

 

[Vinz]

Hopefully this V2 will help a lot in our trading,so far my pro v1 did not work well with me as of nowIVE

 

[Vinz]

I have been doing a lot of testing now and I really like it.

 

[mjkidd27]

I have been doing a lot of testing now and I really like it.

@Vinz when is the planned release for V2?

 

[Vinz]

@Vinz when is the planned release for V2?

2 nd quarter maybe , just finalizing everything

 

[shadow792]

I've started messing with them in AUDUSD. Trailing Start 260 Trailing step 10. It's been securing profit but I feel I might need to refine it a bit more

 

[Joeboy]

I've started messing with them in AUDUSD. Trailing Start 260 Trailing step 10. It's been securing profit but I feel I might need to refine it a bit more

I would appreciate if you would share a bit more about your strategies

 

[pfunkyfize]

I would appreciate if you would share a bit more about your strategies

I replied to your post but for some reason it is being moderated. Can you make it public?

 

[Joeboy]

It sounds like you have a well-thought-out strategy involving trailing steps, although it's unfortunate that it doesn't seem to work as intended with your live FIFO non-hedging brokerage account. This issue might be due to how the brokerage handles orders and the specific execution rules they follow. It’s possible that the broker's system doesn't support or properly execute the trailing stop function, leading to taking the full profit instead.

In this case, what I would recommend you to do is contact your brokerage support representative and clarify to them about your concern.

 

[pfunkyfize]

It sounds like you have a well-thought-out strategy involving trailing steps, although it's unfortunate that it doesn't seem to work as intended with your live FIFO non-hedging brokerage account. This issue might be due to how the brokerage handles orders and the specific execution rules they follow. It’s possible that the broker's system doesn't support or properly execute the trailing stop function, leading to taking the full profit instead.

In this case, what I would recommend you to do is contact your brokerage support representative and clarify to them about your concern.

At this point I am just considering closing the account with that FIFO brokerage. I started my $10K live account with OX Securities today and the positions are doing well. I'm thinking I'll dump the remainder of the limited FIFO live account funds into the OX account. At least I know i can use the trailing steps functions in there...

 

[Joeboy]

Moving your funds to OX Securities, where you’re already seeing positive results and have the flexibility with trailing steps, seems like a practical solution. Trusting a platform that aligns with your trading style can make a big difference. Closing the FIFO account and consolidating with OX might be a good step to streamline your trading and reduce hassle.

 

[pfunkyfize]

Moving your funds to OX Securities, where you’re already seeing positive results and have the flexibility with trailing steps, seems like a practical solution. Trusting a platform that aligns with your trading style can make a big difference. Closing the FIFO account and consolidating with OX might be a good step to streamline your trading and reduce hassle.

Just closed my Forex account and moving the remaining capital to OX. These last few days have been very slow and it's the first time I've seen such low market activity. All my testing on demo accounts for the 8 weeks prior have been chock filled with activity it's strange to see how everything is at a stand still. I've been making out well with XAUUSD and BTCUSD so to see all activity just stop is alarming. The trailing steps have been working great with OX broker .

 

[Joeboy]

It's always wise to stay flexible and adjust your strategies as market conditions change. Hopefully, this transition will bring back the activity and success you're accustomed to. Hang in there, and here's to hoping that the markets pick up soon and align better with your trading strategies!