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Leading Limit / Trailing Stop Advice Needed
Please add your opinion about a "leading limit" as a strategy.
Trailing stops react to market movement. What if limits also react to market movement?
Is it reasonable to increase a limit if the market is trending in its direction and conversely, decrease the limit if the market is trending against its direction?
Does anyone use "leading limits"?
Still looking for advice. Thanks.
Advice rom me is suspect.However, an idea, perhaps.
How about trying a channel trend, taking a profit over the top and buying in, again, on the bottom line? It depends, of course on the whether it is worth the trouble, if it is for a few points and you might get a lower high, signalling a down move. Frankly, I've tried this, without too much success, unless one is in at the start of a new trend. With an old trend it is better to take profit on a leading limit, feel fortunate and wait and see what happens next
For example, if a long trade has a timed exit (say it exits after 20 minutes), rather than exit at market in 20 minutes, the program could have a limit, 20 minutes after entry that exits on the next highest high.
Sometime the changing limits results in a loss, but more often than not, the changing limits results in additional profit.
Does this mean the changing limit is a good system? Or, does this mean the 20 minute exit was not the best exit?
Traded live for 3 weeks and going well. Although, there are "no fills" quite often for both entry and exit. Any suggestions?
