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Mt4 Trailing Stop

There are times when traders face dilemmas on what trade decisions to make. Such dilemmas include not knowing the right time to exit a trade; being unaware of the existence of the MT4 trailing stop function on the MT4 platform, or being unsure as to whether to continue with a losing trade with the hope that things would get better, or to just let the trade go. These dilemmas are not totally new phenomena as many traders have experienced same at one time or the others; so there is nothing unusual about it. A trader only needs to find a way to deal with the problems.

Many traders do not really know that there is an MT4 trailing stop on the MT4 platform. They have been missing a lot. The MT4 trailing stop is a wonderful nice tool to keep handy for trailing profits when maintaining the stops. The problem here is that the amount of pips to trail has to be specified, and that is a difficult thing to do since the market continues to change from time to time, and it is unknown when the trend of the would die out.

If a wrong decision is made, a trader could end up exiting the market rather too early. So, it is best to move stops and exit the market based on the prevailing conditions. They are perfect for trending situations as they eliminate all time-wasting associated with having to monitor the market all the time.

Since the MT4 trailing function on the MT4 platform may not be enough to trail the market, and because some issues may arise with the trailing function during operations, some group of traders have brought up the idea of combining many different exit strategies so as to enable a trader choose the most appropriate strategy for each trade at every point in time.

Because MT4 has a programming language of its own, an exit strategy termed EA has been created for manual traders with the aid of Expert Advisor. The exit strategy EA is aimed at helping manual traders take charge of their trades without having to monitor the market all the time just to determine what course of action should be taken.

There are 11 exit strategies that have been developed alongside MT4 trailing stop. These are: Break even stop, partial close, time stop, two bar low two bar high, MA trailing stop, ATR trailing stop, Equity stop, Parabolic SAR trailing stop, Channel stop, BB trailing stop and N pips stop. When these exit strategies are combined and customized, a trader is able to choose the appropriate forex exit strategy for each trade.

The trader can also then have the stress associated with monitoring the market from time to time reduced since the market will be responsible for tracking the trend and trail stops on its own. MT4 trailing stop will go a long way in assisting a trader carry out profitably successful trades. A Mt4 trailing expert advisor which works as described above will prove useful in the long term as it reduces trading stress and balance the traders' lifestyle between work and family commitments.

Best Regards,

Warren Seah And Forex Trailer Team