How Trailing Stop Loss is to be Used?

We keep listening to that ride the trend but the clarity on the picture will emerge once you understand the trailing stop loss.

You can catch maximum profit by shifting the stop loss which is called as trailing the stop loss (SL) and is explained in the screenshot below:

For a long trade, the SL will update at the end of the formation of the green candle, provided the new candle has formed higher than the previous candle. In other cases, SL remains untouched at old level. Thus one will only exit from the trade when SL is hit and this way one is able to ride the trend almost to the full.

Stop loss is updated every time once the instrument in question moves up and we shift SL towards another key support or resistance depending on the direction in which you are trading.

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