How does Trailing stop works
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Hello Dreemas
In my pending order i have take profit at 50 (500pips) and stop lost at 10 (100 pips). I have add a trailing stop at 10 (100 pips) and 5 at trailing step (50pips). for some reason when i backtest no trade is higher then 100 pips. When i delete it. I got 500 pips profit.
I though with trailing stop it secure your profit. Form 100 pips profit it trigger the TS or am i wrong.
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@william-1 Put a shared project link here, problems can then be assessed.
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@jstap Thank you for replying. This is my project: https://fxdreema.com/shared/5wejqxVue
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@william-1 What you have done should work, I would put trail under a pass block, just to be sure it's going to work. I have never trailed the take profit, just stop loss, I do wonder how the TP would ever be hit if it's constantly trailing away from price.
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@william-1 You should select 'Stop loss' instead of 'take profit' within the TS block.
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The expectation is difference then I thought, may i dont understand how to use trailing stop.
I was planning to make the following EA:
1.) I like to trade once per day at 8.30 or 9.00. The trade I made have some reference point to buy or sell. So I look at ID 1 (previous closing price candle) when there is a new candle there will be two pending order. A selling and buying. Both are pending order have a 50pips offset.
- When it trade there are Take profit and a Stop lost in place. But also want to take step by step to the full profit (take profit).
In figures: the closing price of ID 1 is 1.000. The buy pending order is 1.050 and sell pending order is 0.950.
When it hits 1.050 the trading wil start. Take profit is set to 1.550 and stop lost is set to 0.950.
When it hit 1.150 there will secure my profit when it go down to 1.100 the trade will stop. Its follows the highest price. For example:- at price of 1.150 it stops at 1.100
- at price of 1.151 it stops at 1.101
- at price of 1.152 it stops at 1.102
- at price of 1.153 it stops at 1.103
- at price of 1.154 it stops at 1.104
- at price of 1.155 it stops at 1.105 ect.
Does it work with trailing stop? or do i need block.
- When it trade there are Take profit and a Stop lost in place. But also want to take step by step to the full profit (take profit).
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@william-1 You can do this but you need to set up trees so when a condition is me it activates trail, once another condition is met it starts/stops a trail etc, this is not difficult to do but needs practice to understand how the logic works. The pink blocks can move the stop into places like candle OHLC, the choice of what to use depends on how you want it to work for your stratagy.
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So trailing stop is not the way to? Do i need extend stop or pips away from take profit?
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@jstap
So trailing stop is not the way to? Do i need extend stop or pips away from take profit? -
@william-1 The blue trailing block will trail price at a chosen amount of pips and a chosen step, you can use a condition block to switch this on/off, the pink blocks are similar but slightly different, you can use a combination of these just activate/deactivate as needed.
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@jstap I'm a bit confuse with turn on and off. I dont like to limit the profit. I like to set a trailer stop at 50 pip at the current price. If thebuy order price goes up the trailing stop go up too to secure my profit.
for example: when its trade at 1.000. It automatically set a stop lost if it reach 0.900 and a take profit at 1.500.
If it reach 1.100 the trailer stop will be triggered. Lets say its 50. If the price go 1.050 it will stop trading. but i have 50pips profit. if it goes 1.150 the trailing stop goes with it. that means it stop at 1.100 that means i have 100 pip profit and so on. unit it reach 500 pips on profit.The question is can I also do this with trailing stop or is there another way instead of turning off and on?
thank you in advance
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@william-1 Put a shared project link here, ask the question with the problem you are having, so advice can be given.
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@jstap This is my link to share my project: https://fxdreema.com/shared/II3iL2Z5e
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@william-1 Try this
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It trade like 79 times and the trailer stop doesnt go up. How can I make the trailing stop rising when it reach the highest price? Do I need to use the Pink blocks?
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@jstap @l-andorrà
It trade like 79 times. So i use the old version.
Its modified but not the way I want.
What block and how do I use to trigger trailing stop when It reach 100pips profit? After that I want to have the trailing stop at 50pips. That means that the order stops at the highest or lowest price minus 50pips. It keeps modified everytime it reach new record.
And If i dont make to 100 pips profit I dont want the trailing stop trigged. I just lost 100pips.
This is my link to my project: https://fxdreema.com/shared/ZYI8Bpvpd
