Need help with SL
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I've been testing a bunch of different EA's and found that my exits are what's causing my high loss rates.
One thing I want to try testing out is this strategy but I don't know how to set it up.
When a trade opens, set a SL of 5 pips.
When the trade becomes profitable by 1 pip, set the SL to breakeven.
Then when the trade goes up another pip, set a trailing stop of 2 pips.This is what I have so far but not sure if this is the right set up.
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I think what you're looking for in "Trailing Step is..." it's in the block n the right in your picture. For and example.... If you have a trailing step set to 3 pip, Then the stop loss will not change unless the price is 3 pips in profit, then it will set to break even. When the price moves another 3 pips the stop loss will adjust to 3 pips in profit. When another 3 pips, it will adjust to 6 pips in profit and so on and so one. This is a Trailing Step Stop
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@yoloyacht Do not connect the trailing stop block below the breakeven one. That configuration means that the trailing stop will only move immediately after the breakeven conditions are applicable, never before and never after that.
Just connect both blocks separated directly below block 28.
