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Trailing stops are a great tool for a trend trade when the price is moving slowly but inexorably in one direction for a longish period of time. A trailing stop acts as a moving stop loss to protect your profits while also allowing you to secure near the maximum profits of the trend when it reverses. I started using them in SIM today because I recognized that I tend to jump out of trends too early, leaving profits on the table. You can create a trailing stop on both the long and short side in the same way: 1. In your montage, set the order type to STOP 2. In the "Stop Type" drop down, select "Trailing" 3. Just below the "Stop Type" drop-down, the third field over from the left is labeled "Trailer Price", set the value to the amount you want the stop to move behind the price. 4a. If you're setting a stop for a long position, click "SELL" - You should now see an order sitting in your order window 4b. If you're setting a stop for a short position, click "BUY" - You should now see an order sitting in your order window A trailing stop always stays a set value below the current price, so for example, if the price is 4.20 and you set a Trailer Price of .20 on a long position your stop loss will be at 4.00. If the price goes up the trailing stop price moves with it, but only in one direction. So for example, if the 4.20 stock moved up to 4.30, the trailing stop would would move to 4.10. If the price subsequently moved down to 4.15, your trailing stop price will stay at 4.10. The trailing stop price will always be set based on the current price, so be careful to look at the current price and movement on the 1 minute chart, the stop will trigger the moment the price tics back to the stop price. For example, if you see the 1 minute candles varying about 10 cents per minute on the trend, a .05 trailer price will probably trigger too early. Make sure you're setting your trailer price to a value that protects your profits without prematurely closing your position when the trend would likely continue. I will update this thread with real chart examples. I also have a hotkey but I want to test it in SIM Monday before I post it here. Edit: How to create a hotkey to set a trailing stop.

Friday February 22nd, 2019 Sleep: 7.5 hours. Mood: good, ready to trade. took two 2min ORBDs, the first was in KHC. it broke the premarket low and i went short right the end of the 2min body but it never made a new low and turned around and stopped me out. it was really dumb not to wait for a pullback on this. i know hindsight meand nothing in trading but had i followed my rules and taken Simon's advice and waited for a pullback, i could have had a really nice day today. GOOD: was trending on the 5min and 15min RFI: jumped in too soon, should have waited for a pullback. MOOD: fine, disappointed in starting with a loss but CONSISTENT: yes Then i turned around and did some dumb trading. switched to DBX and got in for 100 shares becuase it looked like it was going to break the LOTD. I didn't think about this trade at all and once i was in i realized it's DBX and that it can really move against you and i shouldnt have taken that big a position. i was down $20 in a second, decided to hold on to VWAP but that my auto stop was going to stop me out before then. I held on anyway and took a full day's loss in one trade. GOOD: auto stop RFI: everything, i don't think i could have done more wrong on this one MOOD: disappointed in myself CONSISTENT: NO! Over a full days max loss in 9 minutes. might be a record for me. i still haven't fully integrated taking the market seriously on every trade and i end up getting burned. back at it Monday morning. What i did good today: Respect my rules and quit trading at max loss What i did bad today: took an impulse trade in DBX without any thought What can i do better tomorrow: Position size according to your stop. plan all trades!! Other comments for next week: Remember next week what happens when you don't fully think through trades, you lose money.

Friday 2/22/2019 Lots of rule breaking today. Took a trade though it did not satisfy setup checklist. Took a trade though it did not have a "powered by" indication. And took a trade though it was right on the verge of a VETO criteria. Quite disappointed with myself. Well being score of 5/10. My one allowable trade was with AMD. The setup/power (note they are highlighted in red it did not have the correct criteria) AMD did have 1M vol on the first minute which triggered me to look at it.Though AMD had a very bearish 2min candle, it did not cleanly break the tech level (24.06) to have an actual setup. the "Vish" setup only has two criteria, a very bearish candle and must break a tech level. Having only one out of two criteria satisfied is not remotely a setup. Though the price did bounce off the tech level 3 times, to have a "curtsy" you do need to cleanly break through the tech level as well. I remember exactly what I was thinking, "it needs to reach 24.03 at least to be considered breaking the tech level, but than it would reach the Bollinger-band and then trade would be Vetoed." Thus there is no trade to take. So instead of moving on to a different stock, I took the trade anyway and got stopped out. What I did good today: I kept to my 1min 45sec no trade rule. Exited the trade correctly. Took correct share size. Kept to my 1 trade/day max rule, though I really wanted to revenge trade. How did I challenge myself today? I turned off my P/L window again for the forth day. Also, I kept to my 1 trade/day rule. Successfully kept to my 1min 45sec no trade rule. What I did bad today: Traded AMD again!!! Traded without an actual setup, trade was not "powered" and almost at Veto level. A really bad day. What can I do better tomorrow: Even though I only traded once, I actually over traded. Must keep working on that. Must wait for the setup.....

Feb 21st (Sim) P&L After Commissions: ~50 Trades: 3 Today was a tough day to trade. Not a lot of moves and everything was moving fairly slowly in the mid morning. I ended up going 2 for 3 with about $50 in profits after commissions. Face value looks pretty good, but the first trade HTZ I took wasn't pretty. $HTZ - It looked like it was going to be a false breakout to me, even though it was a little early in the day. I took it short when it came back to VWAP. My stop was right above VWAP, but the trade moved so quickly when it popped up that I hesitated on the exit. At that point, I was down about $50 unrealized which was more than I wanted to risk on the trade. It did seem to hold about the $18.70 level and didn't look very strong. It started to come back to VWAP and I'm not sure why, but I added a small size to my position. I originally took 150 shares and added 50 more. This was a dumb add and I shouldn't have done it. The stock popped up one more time and I got out when it came back down to VWAP. I exited at the point where I added to my shares. While my loss wasn't big on this trade, it was not managed well at all. $CVS - Entered short after it bounced off VWAP. Couldn't break the 20EMA on the 1 min and came under the 5 min VWAP. Felt it was a good entry. Took a few minutes in the reverse ABCD and then dropped. I did a pretty good job of waiting for first profit and even holding some in case it continued downward. $FB - I took it short when the price action was weak and it was holding trend lines. Timed the entry very well, but I only covered about half my shares for profit, the rest at slightly past B/E. Can't complain about a green day, but I can complain about not trading as well as I want. The HTZ trade had very poor risk management, it just didn't kill me on the trade which is fortunate. It was a very slow day in the market while I was watching so I only ended up with 3 trades. I am very happy with that and happy that I remained patient even when there was nothing to trade. That is what I am most proud of today.

hey guys...if you get an error saying "Stop price is invalid" Go to your Setup menu and select Trading Settings and make sure the "Enable Fast Stop Limit Order" field is unchecked. The Fast Stop Limit Order will automatically treat all your stop orders as Stop Limit order.