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The most over looked day trading hack , the trailing stop loss, 60% of traders do not trade with a stop!
A trailing stop is a modification of a typical stop order used in trading. It can be set at a defined percentage or dollar amount away from a security’s current market price.
For long positions, investors place a trailing stop loss below the current market price. For short positions, it’s placed above the current market price.
The purpose of a trailing stop is to protect gains by allowing a trade to remain open and continue to profit as long as the price moves in the investor’s favor.
Once the trailing stop locks in a profit or reduces a loss, it does not move back in the other direction.
Trailing stops can be set as limit orders or market orders, and they automatically track the stock’s price direction without manual adjustments.
Remember that setting the ideal trailing stop distance is crucial—it shouldn’t be too tight (triggered by normal market movement) or too wide (risking unnecessary losses) to be effective in the stock market
#stockmarket #trailingstop #daytradingstrategy
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