 Hey traders T Bradley 90 here for those who do not know Alex took on the challenge recently of seeing how much he can grow a $30,000 account in 30 trading days and the results are in and he made $84,000 in less than 30 trading days, which turned his $30,000 account into a hundred and thirteen thousand dollars Alex recently put together a free mentorship course with his mentor bow explaining exactly how he did this the link is available at My investing club dot co slash Alex There's limited seating every single week. So be sure to reserve your spot as a very special gift to our YouTube viewers I want to announce something very special This is my personal phone number my personal number that I am putting out to you guys If you have any questions about joining M. I see or on the fence about joining our wonderful club You can contact me now directly and personally and I will get back to you. Hey everyone today We're gonna talk about trailing stop losses their value the pros their cons And how they work so we're gonna walk through snap snap is a ticker I traded on Friday based on the chart from Thursday Snap I traded to the long side and Let me just walk through the trade real quick to give you the mindset here and where I was at snap is a Week open long set up or a week open red degree So you can see the week open here goes red the dotted line is the previous closing price It goes red here on this particular move now it continues higher from there and This is when the trailing stop loss becomes valuable Because you never know how far it can go right to the downside or to the upside sometimes hey You just want to hold and find out So a good way to do that is by setting a trailing stop That's how you can help yourself ride trends much longer. So in this particular case Snap I bought at 1738 down here Into this morning washout. I longed it now I did not add to this position until it went above view up this higher high and the midpoint which in thinkorswim is Not 1750. That's where each rate is wrong It's actually 1745 so when it reclaim view up the midpoint and this higher high here at 1747 I added to the position When I added to the position It goes straight in my favor and I take a little piece off and now I've got a little I've got a little bit left And I've got to decide what I want to do What I wanted to do was add when it broke the pre-market highs if it just went straight up and broke them so When it started to grind I was ready to add but let's say I want to put a trailer on here, okay the and let's walk through it with like a excel file and We go so my average cost was 1745 roughly after the ad The bid and the ask at the point that I decided to do this was 1755 by 1756 now. Let me explain a trailing stop trailer portion If it is by a dollar amount That is when it defaults to The difference between the bid and the ask by the dollar amount here, so a Sell stop loss Will default to the bid and it cover or buy stop loss will default to the ask so if my trailing stop loss is ten cents that means that When I set my trailer and the bid and the ask is 1755 by 56 My trailing stop is going to go to my average, right? It's going to be my average When I set it so this would be like using a break even stop if the bid goes to 1760 by 1761 my stop loss moves up. It moves up with the price by my trailing stop Now let's say it goes to 1760 my stop loss is 1750 But when I look at the chart I see 1750 Whole half dollar mark. So maybe I don't want to stop loss Writing right at support. Maybe I want it to have to break support in order to stop me out So at that point I would change my trailing stock to 15 cents So my stop loss would now be back to 1745 or my average now Remember whatever the bid is at the current time or the ask depending on what type of Stop loss it is whether it's covering a short or selling along So it's going to default to the bid or the ask so if the bid drops real quickly to 1759 and It stays at 1761 on the ask my trailing stop when I set it at 15 cents. It's going to be 1744 So just be aware of that that is sometimes the discrepancy is there You just have to be clear what the bid in the ask is at that current point in time And you just have to adjust your trailer accordingly Now don't think that once you put a trailing stop you have to stick to that trailer Once this particular stock continues higher and it gets up here into the 1760s and test this pre-market high and the high of the day Don't think that you can't just cancel it and let it work Or just take your money, but if you don't know where it could go or what it could do and it gets all the way up here to you know 1767 by 1768 now your stop loss is 1752 So you want to let it work or you want to just take it off at 1752 unlock in the seven cents to share This is a good way to be able to pay yourself while letting the trade work in your favor and Once it fails right here your stop loss changes or it stays. I'm sorry. It stays The same once it continues higher higher higher higher and your stop loss moves higher higher higher Hey traders T Bradley 90 here Tosh Bradley from my investing club chat Just wanted to reach out to you personally and show you how to contact Myself personally if you have any questions about joining M. I see about M. I see in general or are on the fence and need a Little bit of guidance before you join for the first time ever I have put out my personal number for you to reach me directly Among my email at Tosh at my investing club comm and our Twitter and IG handles reach out today and get any Information you need on what makes M. I see so great and why you should join us today