Maximize Your Forex Profits With A Simple Trailing Stop Ea

One of the biggest dilemmas that traders face every day is determining the right time to exit their trades

. Most traders are not aware of the MT4 trailing stop available on the MT4 platform, and they are definitely missing a lot. However, the amount of pips to trail needs to be specified, which can be quite an issue considering that the market is constantly changing. Anticipating when a trend would die out is almost impossible, and many traders exit the market too early by making wrong decisions based on prevailing conditions.

Since the MT4"s simple trailing function is not always enough to trail the market in trending conditions, numerous traders are trying to combine several different exit strategies. Thus, they are able to pick the most appropriate exit strategy for each particular trade in a given situation.

The good news is that there are some MetaTrader EAs available to the public that use all the main exit strategies like Simple Trailing, Parabolic Trailing, ATR trailing, Channel (Bollinger Bands) Trailing, Approaching Trailing, Highs and Lows Trailing, or Kijunsen Trailing. LOCTrailing is one of the best and most complex Trailing Stop EAs on the market today. It enables you to choose the most appropriate exit strategy for each of your trades, and configure it to match your trading system. By using a professional built trailing Expert Advisor you are drastically reducing the stress associated with monitoring the charts the entire time your positions are open. It can really bring that ideal balance any trader is looking for between work and family commitment.

LOCTrailing"s Simple Trailing Stop Loss method is very similar with the one integrated by default in MT4, the only difference is that it allows you to set a minimum profit your trades must get before the trailing can start. Nevertheless, the other methods are much more elaborate, yet extremely simple to use. All you have to do is to input the parameters you want and then you can relax knowing that even if you are away from your work station, your losses will be minimized while your profits are maximized. The LOCTrailing EA works on any pair and every timeframe, and can be used for 5 digit accounts as well. Aside from the required parameters for the indicators used, you may also set the trailing to start only in the profit area or right after your order was placed. Additionally, you can track each specific order using comments, and you can see additional information about the tracked orders directly on your MetaTrader screen due to the live visual information feature.

by: Mikhail A.

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