pls help,...break even....trailing stop
-
pls can someone show me, how i can do this....
i want my SL to move to whr i bought or sold immediately price moves in my direction.
i dont know how to do it in breakeven or trailing stop.
thanks -
Not sure I fully understand you. Do you mean an immediate new trade each time price hits previous' TP/SL? No trailing stop is needed in that case. Can you please confirm?
-
@weius said in pls help,...break even....trailing stop:
pls can someone show me, how i can do this....
i want my SL to move to whr i bought or sold immediately price moves in my direction.
i dont know how to do it in breakeven or trailing stop.
thanksBreak Even is a one time move when you set your SL at entry or slightly above (to cover trading costs). Trailing is a permanent adjustment of SL based on the price movement and some parameters, See definition here https://www.babypips.com/forexpedia/trailing-stop
So in order to help you, you might specify what exactly you want to achieve. Also keep in mind that forex market usually move in waves. If you set trailing parameter too close, you might get stopped out earlier than you want to, which is a usual beginner's mistake.
Best approach is to have confident in your trading strategy and use trailing in particular as an emergency exit if market conditions totally change.
-
Ok this is what i want my EA to do. I want my SL to move to break even immediately price moves in profit.
-
Inother words,...how do i set my SL to move to entry point,...after price has moved in my direction.
-
That will not work. Imagine you open a trade and the fisrt pip is in profit. Your broker will not allow you to put a SL so close to the current price. You will need a minimum distance for it.
