trailing stop/trailing profit
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can someone explain to me how this trailing works ?? in a simple manner the EA 'carries' the stop or the profit we set in the trailing system. but when this trailing either stop or take profit will be triggered?
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Trailing means that the stop has a maximum distance from current price.
If you have 20 pips trailing stop (SL) in a buy trade, and the price goes upward, the stop also goes upward 20 pips behind current price. If the price then goes down, the stop doesn't move anywhere and the SL can trigger. -
i was waiting for you!
, thank you for your time again. if i the trade opens a buy position with trailing stop 20 pips but the price goes down where will it stop?? at 20 pips below the buy position?? for example if i buy at price 2000 with trailing stop 20pips that means that it will be stopped at 1980 no matter what??
2. if it goes 2020 with trailing stop 20pips and 1 pip step that means that at 2021 the stop with me modified from 1980 to 2021 ???
3. is it better to use a trailing profit?? -
@ggrobot said in trailing stop/trailing profit:
- if it goes 2020 with trailing stop 20pips and 1 pip step that means that at 2021 the stop with me modified from 1980 to 2021 ???
Not exactly, if price is at 2020 and you have 20 pips SL trail, the stop is at 2000. When price is 2021, and your trailing step is 1, the stop is now 2001. If your step is 2, the stop moves to 2002 only when price reaches 2022.
Trailing profit is useful too, but it is all about your strategy, you have to do your own reserch about what is better.
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@roar Bro I was seeking how to use trailing stop/step in many threads, you clarified me for now!! THX.
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Hello House I have difficulty with Trailing Stop loss block, I am using ATR to set stop loss so it is impossible to have a fixed stop loss. My money Management is 1% for for an open position, I want to trail stop to 1% profit when price has moving in my favor by 2% and trail to 2% when price has moved to 3% in my favor.
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You will need a specific structure to do that. There is no single block doing that. Are you familiar with variables?
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@l-andorrĂ i am familiar with variables and want to achieve this same thing. can you help?
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@l-andorrĂ
Would this be correct? -
That depends on what you exactly need. Could you please be more specific?
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I want trailing stop to move based on percentage of profit. so once profit reaches for example 3% it trails by 1%
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@l-andorrĂ I want trailing stop to move based on percentage of profit. so once profit reaches for example 3% it trails by 1%
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You're going to have to use a few variables for that. I suggest that when the trade is placed, you save the stop loss size, in pips as a variable. You'll need this because you'll need to know what 1% is as you continue to trail your stop. Once you know the stop loss, in pips you know the size, so you can use a simple Trailing Stop block, and have the offset begin at 300% of the initial stop loss size, and for size you can use the variable from earlier.
For you, the trailing start would simply be 300%
On Trade I capture the SL size. Then, I have a Trailing Stop that uses that value
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@cmuphyfx my stop loss is configured based off the ATR
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@cmuphyfx here is what i have now. it seems to work ok
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I'm not familiar with those settings you have - I have not ever used % of profit. If it seems to be working for you, and you've watched it execute then good!
