I am a complete beginner and trade on FXCM platform. Can someone talk me through setting up a trailing stop please. I have tried but it doesn,t seem to work. Thanks in anticipation.
Trailing stop only works when you are in profit. So suppose,
You bought Eur/USD @ 1.3564 & you set your trailing stop to 25 points.
Now wait for eur/usd to reach 1.3589 & if price goes beyond that you will see your SL keeps modifying.
The distance of your SL would be Eur/Usd high after you entered the trade minus 25 pips.
Thank you for your reply. I shall try it out on my demo account
Have you considered leaving the plattform open? TS does not work in brokers server it is triggered on the platform. Anyway my TS level is 2/3 of my SL level, if i have a SL of 100 pips, my TS will be 66 pips.
Regards.