Stop trailing stop from running at 3 pips profit?

[Julianrob]

Re: Stop "Trailing Stop"

I am having trouble with this command. I would like the stop to trail immediately, then stop at X pips in profit, which I nominate as 30 in the case of gold (XAUUSD).
I have tried many variations of commands - etc.,
"If Trade" > "condition" in loop, stoploss (price level) < Value, text, (variable: Result 1) (Where result1 is the formula "trade/order in loop", open price + Value: pips, 30, THEN > "Trailing stop (each trade)"

However this is not working. for some reason trailing stop does not move at all. Could someone assist please? Thanks in advance. Julian

[jstap]

@julianrob If you put a shared link then problems can be assessed, in HERE you'll see how to achieve this, not tested but should work.

[biztet]

I think this is where you use Break Even.

[jstap]

@biztet Break even will move stop when enough profit reached, sometimes trailing until BE is more desireble encase price reverses before BE.

[Julianrob]

@jstap Yes, I want to use the trailing stop as a break even stop plus a few pips, but have it work to start reducing risk as soon as the trade goes into profit, just like the trailing stop does.

Thanks for the reply with the answer. I tried that solution, except would make more sense - For buys, when stoploss is <= open price, then add trailing stop block, instead of when bid/ask <= open price. Got it working now, only sometimes, on GBPUSD however still not working on XAUUSD. (when I put an amount in the 'adjust' window, it stops working altogether, the trailing stop continues to move with price a lot further.)This would be absolute magic if I can get it working because it's going superbly for NFP straddle trades, and protects the account most times during whipsaw

HERE's my logic now.

[biztet]

I'm not sure if i understand you correctly. Using break even block you can slso make it pun the SL when in profit, with profit, not just $0. Use the Be Pips Offset option. It will secure profit in pips.

[jstap]

@biztet Yes you can trail to BE, you can move stop to BE when price has moved far enough, you can move to BE then start trail, you can start different trail at different times, the choice is yours.

[Julianrob]

@jstap Great, thankyou!
I got it working exactly how I want now - In this instance on GBPUSD, I want it to trail price immediately and stop at 3 pips in profit. That way I can manually exit the trade based on the volume, price movement or news figures.

I was missing 'pips' word in the adjustment box as described beside it.
HERE is my new coding (+3 pips) in adjustment box, now it's working like a charm

Just one last question - can I make this 3 pips an input, and vary it in settings? I've tried adding "+Break_Even_Add_Pips pips" but it doesn't seem to be recognizing the (Break_Even_Add_Pips) input I have as an input setting

[jstap]

You do it like this

[Julianrob]

@jstap Thanks for your assistance.
Trying that doesn't work on backtest. I tried every other combination, making it an int setting, adding 'pips' word after it, etc., It seems like it doesn't like having input variables in that adjustment box. I'll probably just have to hard code a 3 pip stop for this. It would be lovely to be able to switch off the trailing stop a much easier way. All your help appreciated

[jstap]

@julianrob Sorry my fault, I do this all the time but just replace the number with the constant name like this.

[Julianrob]

@jstap Yeah thanks, I tried that. It's not working in backtesting. I'll try it out on a demo account when the market reopens

[jstap]

@julianrob I have just tested this HERE, it works on back test.

[Julianrob]

Thankyou. I think I nearly got it working. I mean the trailing stop was set to switch off at 3 pips profit, and for GBPUSD on backtesting it would move up to 2.5 pips or 3.8 or something like that. But on gold, it would move the stop up to a random $4.40 higher in price which is nothing like 3 pips. I'll check out what you have here tomorrow as it's late here in Australia.
Appreciated your help very much. If you have hard coding skills I would be happy to pay for a custom job to get this working reliably

[jstap]

@julianrob I know how to use FXDreama and minimal coding, Pm me with what you want and I'll see what I can do.

[Julianrob]

Hi there.

I just tried removing the adjust pips and ran the long condition as -
In loop (Trade/order in loop) Stoploss is <= (Trade/order in loop) Open price
then run trailing stop block.

Even on backtesting It is still not moving the SL to the open price. So it's buggy there and should be looked at by the developers. Also when :
(trade/order in loop) profit > open price also does not work properly. We should not have to have a second flow for sell trades. By default if a trade is 3 pips in profit, it should already assume SL is 3 pips above price for a buy and below for a sell. Or at the very least, could we please have an added function in the trailing stop block to simply turn it off under certain condition or price level?

All I want to do is be able to turn the trailing stop OFF at a predetermined level of pips profit, or even just at break even, for both buys and sells. And these pips should be able to be adjusted in input settings. Can you please let me know if it's possible? Thanks

[Julianrob]

Hi,

I just did extensive backtesting. It appears the +Adjust pips is working. However not exact number of pips, i.e lock in 3 pips, it sometimes does 4.5 or 4.9 or something, even with 0.1 trailing step. I wonder if the backtest skipped a few pips on the news breakout and was simulating slippage. Anyhow will see how it goes moving forward

[jstap]

@julianrob Back test will amend to broker specifications, for example on IG 5 pips is the minimum SL distance on forex pairs, also buy/sell will happen at ask/bid price, + is above - is below.