Usually, you want to put a trailing stop is that once it, especially if you are short-term swing trader, right? Usually, it’s once it touch, you get out. Alright?
So, that’s why if you are afraid that you’ll get cashed out and it will touch your trailing stop it will start to rebound very significantly thereafter. You might have to allow a wider trailing stop, that means a trailing stop that is not so close to the most recent high that it is at. Alright.
So, for short-term swing trader that is the case, yes, usually once you touch your trailing stop during the intraday, you might just want to set the order, once it touch you will just automatically get out.
But generally, if you are longer-term swing trader or even position trader I would suggest you wait until the end of day to roughly see because if you are a longer-term swing trader or position trader, intraday and a closing doesn’t really affect your bottom line or your top line so much. So, you rather wait for the market to tell you by almost what’s the end of the day, what is the price that they are willing to close because they will tell you the inclination, thereafter.
Right, so for short-term swing trading you really will have to get out during the intraday when your trailing stop is being hit but if you’re longer than swing trading or position trading you can afford to wait until nearly to the end of day or wait until the end of day to decide whether you want to, to decide whether it hits your trailing stop and whether you should get out from there, thereafter.
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