Basic Trailing Stop Question
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Apologies in advance for what must be a very basic question around setting up an SL.
What I am trying to do is set up a condition where when (either buy or sell trade) hits 100 pips in profit, a trailing SL will be activated 20 pips behind (i.e. current price is at 100 pips in profit, SL is placed at 80 pips in profit).
From the above, for every 10 pips the price continues to move into profit, the SL moves 10 pips. So at 110 pips in profit, the SL is at 90, at 120 in profit, SL is 100 etc.
Is this possible, and if so, could you please share a screenshot of the block with the correct settings?
Finally, would the following be the correct way and place to put the trailing SL in the EA?
Many thanks in anticipation of your kind assistance!
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@sirboyce I dont know how to help you.. too stupid but, I want to know basically the same thing.... How to manage the TP follow the children orders.... maybe you know? Thank you
https://fxdreema.com/shared/DycmAdrob
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@alphaomega Sorry, don't know how to do that and what you are looking to achieve really is different to what I am looking to do.
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@sirboyce said in Basic Trailing Stop Question:
Apologies in advance for what must be a very basic question around setting up an SL.
What I am trying to do is set up a condition where when (either buy or sell trade) hits 100 pips in profit, a trailing SL will be activated 20 pips behind (i.e. current price is at 100 pips in profit, SL is placed at 80 pips in profit).
From the above, for every 10 pips the price continues to move into profit, the SL moves 10 pips. So at 110 pips in profit, the SL is at 90, at 120 in profit, SL is 100 etc.
Is this possible, and if so, could you please share a screenshot of the block with the correct settings?
Finally, would the following be the correct way and place to put the trailing SL in the EA?
Many thanks in anticipation of your kind assistance!
This way:
Setting trailing step = 10 is what you need
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@alphaomega said in Basic Trailing Stop Question:
@sirboyce I dont know how to help you.. too stupid but, I want to know basically the same thing.... How to manage the TP follow the children orders.... maybe you know? Thank you
https://fxdreema.com/shared/DycmAdrob
Sounds like the same thing I asked for a while ago. https://fxdreema.com/forum/topic/8092/move-the-take-profit-on-adding-lots
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@sirboyce I understand what you want to do... you want to follow a prize so do I want to follow a prize... different goals and reason same principle
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@ambrogio Hi. Thanks for taking a look. That is not correct: Settings you have entered means that when the current price hits 100 pips from the price entry, the SL will be placed 80 pips behind current price i.e. at 20 pips from entry price, and will then step 10 pips every time the price moves 10 pips in the direction of the trade.
I believe the Trailing Stop should be changed to 20, to achieve what I want. I have been able to work this out by seeing your suggestion in action in backtesting...so thanks!
I will try my EA with 100 pips offset, 20 pips trailing stop and 10 pip step and see how that does.
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@ambrogio Thank you.. Thank you brother!!! Yes this is exactly what I also want to do!!! Grateful to you
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@sirboyce Oh yes, I accidentally reversed 80 with 20, however the solution to your question is the trailing step = 10
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@ambrogio Sorry Ambrogio to trouble you again... Could you please help and explain how this constants and variables is suppose to work.. This formula still is not following the average of all trades with the TP. I am to slow to understand it .. Please brother
https://fxdreema.com/shared/fdxeERxqc
