Stop loss automatic adjustment?

Trading Systems Expert Advisors and Automated Trading
1

Hi,

I am trading 4H charts only so obviously I am not sitting in the front of my computer all the time, while having open trades. I have backtested one great strategy and this final piece would help me tremendously in protecting my account.

Here is the question:

I am trading on MT4 platform. Is there a possibility for STOP LOSS to move automatically from initial price (point A) to another price (point B) after seeing some profits?

e.g. We have open trade and our target is at 100 pips/SL at 50 pips. After some time we see that price moved around 30 pips in our favor. Is it possible to set up SL to move from initial -50 pips to BEP or small profit, after reaching +30 pips? And maybe to make another move from BEP to +20 pips after reaching 60 pips of profit?

Thanks for your answer,

P.s. Sorry if my question is not completely clear, I am not native english speaker. :57:

2

That´s the definition of a trailing stop. You set it with a right mouse click over a order (pending or working). You need to have the MT4 terminal running for it to work.

3

Thank you for your answer. I have checked trailing stops earlier but still have one doubt. e.g. 15 points is 1,5 pip, not 15 pips, right?

4

If your account is four digits decimal 1 point=1 pip. If your account is five digits decimal 1 point=0.1 pip.

5

Yes, I am 5 digits, that was confusion. Thanks!

6

Please note that if you switch off your terminal, the trailing stoploss that you have set will cease! Be careful with this

7

Thanks for this information, I find it very useful. Don’t see how trailing stoploss could help me if my computer has to be on all the time though. :19:

I will try with alarm on my mobile phone, I get the message after some price has been reached.

8

You should think about renting a VPS. Also now Zulutrade has server-side trailing stops.

9

server-side trailing stops.

First time I’ve heard about that. Where can I read further on it if I may ask?

10

New Trailing Stops For Forex Traders On Zulutrade | Forex Social Traders

11

This option is on for quite a time now. Trailing stops are really the thing to do at least for me!

12

First time I’ve heard about trailing stops. Is there a good tutorial about it somewhere please?

13

What do you mean? It just put a floating amount you like your trade to follow the market with.

14

try pipschool

15

Well TS isnt always good, sometimes it moves SL too fast and u can’t set your rules for sl moving. If onli yyou learned some basics of mql coding u could wrte your advanced tailling stop machne:) consider it:)

16

Trading Station Web is a very popular choice among FXCM traders. The intuitive platform is equipped with a professional charting package that lets traders trade directly from the charts

17

Hi Kysioziom,

There’s a free custom strategy called Stage Trailing Stop that you might like. It allows you to specify a stop price level for each stage as your trade progresses into profit. I discuss this strategy further in the following thread: 301 Moved Permanently