Hello) I just to know some more about the trailing stop function of MT4.Suppose For the buy order of the USDCHF pair my stop loss is at 0.9020 i breakeven at 0.9040 and my target profit is at 0.9080.I use 20 pips stop trail order.When the price will reach at 0.9060 it will automatically move my stop loss at 0.9040(break even)? And is possible to move and secure your profits after every 20 pips? Finally my broker told me that this function only works if i am logged in on my MT4 or connected to it,is it just my broker or every broker on the net is like this?
Thanks.
Everything you say is correct. The built in TS is very simplified, but can do the necessary functions you want. The TS is not sent to the broker’s server so you have to be on an active machine with MT4 running.
Thanks for your reply .This is a really great feature of MT4 specially for the long term swing traders like me but running MT4 all the time is bothering me a bit .That means for the overnight positions i shouldn,t turn off my lap top.
A VPS or TS EA may the answer. Personally I find static TS to be account killer just like fixed TP / SL. I like to move my SL take my profits before going to bed.