adjusting stop loss s/l when market > opening price
-
how do you adjust s/l to kick in when market crosses the opening price and still keeping trailing stop?
Let's take the following scenario:
- market passes opening price and position becomes profitable
- but market has not yet reached trailing stop level
- then market reverses direction and approaches opening price
4a. before it reaches opening price, order stops out
4b. or it changes direction again and reaches required level to activate trailing stop
In other words, the question is how to prevent position from slipping back into the negative before it activates the trailing stop?
-
To put SL at open price level when there is some profit, use "Break even point" block.
-
will "break even point" block work with trailing stop?
-
If needed it's possible.