I am working currently in a demo account before putting my money where my mouth is…and have a question about stop loss. Say I activate a trade and put in a stop loss at 10% below my entry order to protect against loss. Then, my currency moves up 100 pips and I want to MOVE my stop to, say…30 pips below the current price…to protect my earnings. I can’t find a way to do that!!!
Any ideas? I can put in a fixed or trailing stop loss, but once I activate the trade, I lose my options. Surely I can do this and protect my gain?
Yeah this really depends on which platform you have. Brokers allow you to edit/modify your existing orders usually by right-clicking or double-clicking. Which platform are you using?
in forex One of the trickiest concepts of trading is management of stop orders. A stop loss order is an order that closes out your trading position with the intent of cutting your losses when the market moves against you.
I’m using FXCM’s mobile app but I trade live. Not sure if it’s different with demo accounts. I just click the open trade, click stop, and then manually input my new stop.
Now a days forex is one of the fastest growing markets in the world.its a perfect business because Forex trade is possible to start with just $1.for a new comer its important to study well about forex.its not so easy but if you analysis the market.
following signal you can success and make a huge profit and you also have to trade with demo account for a long time.
The instructions Krissylinne provided should work for you, if your demo account is set up with FXCM UK (fxcm.co.uk). However, if your account is set up with FXCM US (fxcm.com), then please follow the instructions below:
1. Select “Orders” from the bottom of the screen
2. Hit the “Change” button for the order you want to modify
3. Set the new price for your order and hit the “Submit” button
If you ever have questions about FXCM’s platforms, feel free to ask me in the Broker Aid Station.
