subject: Forex Trailer Review [print this page] Forex Trailer is a new forex trade management tool specially designed for forex trading. This tool is built for Metatrader trading platform by a team of professional programmers, system analyst and traders.
The software includes 11 trade management strategies so that the trader can choose from the 11 exit strategies and know exactly what to do from the start, how he should exit his trades even before he enter any position.
Purpose of Forex Trailer software is to provide an executable plan for trader to exit their trades in a systematic approach.
Pip Protection System has three strategies. They are
1. Partial Close
2. Breakeven Stop
3. Time Stop
These strategies automate the process of shifting stop loss to break even point when conditions are met. This protects pips and at the same time lower the trader's risk of sustaining a losing trade.
Pip Maximization System will lower the trader's risk by securing pips after every closed of candle/bar by management of stop loss level while at the same time still providing the opportunity for trader to participate in longer term market behaviours. Management of stop loss level guarantee a certain amount of profit maximising profit while at the same time lowering the risk. Included in this system is 8 exit strategies and divided into 3 categories:
1. Price Driven Trailing Stops
This category of trailing stops uses price to manage take profit and stop loss levels.
2. Indicator Based Trailing Stops
This category of trailing stops uses commonly used indicators like moving average to manage take profit and stop loss levels.
3. Special Trailing Stops
This category of trailing stops may use user's money management plan to manage his take profit and stop loss levels. One example is equity stop.
Forex Trailer Review
This is all about having a trading plan and executing it with the plan. Little or no emotion is a must for traders to have good trading performance in the long term. Forex Trailer software is simple and flexible for the average traders to use, and to use the way that traders want to be used is most important.
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