Trailing stop
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Are these JPGs really not here, deleted, or uploaded incorrectly?
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Even looking at examples of the forum and website, do not know about using the Trailing Stop.
Can you teach me more detail.
Trailing stop
What is it, and how should I use these functions?
Trailing stop mode?
- Fixed pips?
-% Of Take Profit?
-% Of profit (cc-Open Price)? - Dynamic (pips input)?
Trailing stop size?
step mode?
-% Of Trailing Stop?
step size?
New Take Profit mode?
- No change (use original Take Profit)?
- Clear Take Profit?
- Fixed pips?
-% Of Trailing Stop? - Function value?
Start when is above?
- Nevermind?
- Open price of the position?
- And everyone else ...?
- Fixed pips?
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I was also confused of how trailing stop works before
This checks where SL is and moves it when it's needed. It does that on every tick, for every trade independently.
Tick comes -> Work with trade 1 -> Work with trade 2 -> Work with trade N
So because of that it should be placed for example with "Pass", to be executed on every tick. Normally, this is not must, because sometimes you may want to use trailing stop A in some hours and trailing stop B in others.
Trailing stop parameter = at what distance SL line must be kept. X pips away from the current price or other option. Dynamic level is when you use some indicator, like MA, to follow it's line. Dynamic pips is when you want to use custom value for pips.
In other options there is "Function value"... it's the same, I have to rename all to "Custom value" actually
Trailing step parameter - how often to update Stop Loss, if this is 0 it will be updated every time when needed, too often, so your broker will not like you.
The rule is, for Buy: When Ask > SL+TrailingStop+TrailingStep => Move SL to Ask-TrailingStop
Trailing Start parameter = if you want to wait to profit with some pips and then start trailing stop.
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If you comment the images separately.
'll learn, "understand".Comment picture by picture separately.
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01 - First SL move will happen when profit is 10 pips, and SL will be placed 30 pips below the current price then, or at -20 pips relative to the open price. Second SL move will happen when profit is 20 pips, and SL will be placed at -10 relative to the open price. And so on...
02 - Trailing stop is relative, as it says it is in the middle between the current price and the open price. But in this case you should have some Trailing Start, because you need some room for this. In the beginning CP-OP is zero or too small, so before doing trailing stop it needs to build some profit, and then it will keep SL in the middle between the current price and the open price. The more profit you have, the further the SL is (if you measure it in pips or points).
If Trailing stop is 100 pips, 10% of Trailing stop is 10 pips.03 - Only if you have TP, if TP - 100 pips, then TS will be 100 pips (when 100%)... obviously. And Trailing step is relative to Trailing stop, will be 10 pips.
If TP is 200 pips, TStop will be 200 pips, TStep will be 20 pips. All relative to TP.04 - The same as 02, but TStep is fixed. Again, use this TStop method with some Trailing Start, you need to gain profit before start trailing, and how much profit is needed... depends on the trailing stop you want.
05 - Will modify TP to 50 pips when it's not 50 pips. 50 pips relative to Open price and it will stay there... If I remember correctly.
06 - Will clear TP.
Start when profit is Nevermind... it will modify SL in the beginning, no matter if yo have some different SL for the trade.
