Help! The edge of the wall is chipping

Use some drywall patching compound and a 6" drywall knife to patch. let it dry and sand smooth.

Firstly, may i ask, is that a timber board next to the external corner? If it is, try to remove it, then using a hacksaw not a wood saw cut a horizontal cut on the top of the skirting, in the metal edging, this will allow for the expansion and contraction of the edging. When the metal edging was attached originally to the corner of the wall, the metal strip was cut too tight ,by reducing the length of the metal, it will be able to expand and contract,and not break the plaster of the wall When this is done then replace the timber strip and patch the damaged section as suggested in the previous reply

I cover all high traffic corners with a clear plastic stripping to try to prevent cracking. We are a house of clumsy and hit the corners constantly

Here's an example of clear corner protectors that might help: https://smile.amazon.com/Prime-Line-Products-MP9129-Perforated-Construction/dp/B01M66LOIC/ref=sr_1_3?ie=UTF8&qid=1533587526&sr=8-3&keywords=clear+corner+protectors+for+walls

I don't see where you need more than this product or one like it. Fill the break, let it dry, sand it and do it again if needed. Paint and it should be good to go.

You can see by the fact that the plaster did not stick to the metal edging that you need some type of substrate for the plaster to stick to. I would suggest a little dab of latex primer before using joint compound to repair the the corner. As mentioned before a plastic Edge guard available at The Big Box store would certainly help this from happening again. Good luck

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