Hello, What do you guys understand by the following terms with respect to trailing stop orders?
- Start Trail
- Trailing Distance
- Trail Interval
Also, let me know how these variables can be varied to ride on long- term trends.
Hello, What do you guys understand by the following terms with respect to trailing stop orders?
Also, let me know how these variables can be varied to ride on long- term trends.
i think if you go on the educations section that might help for this bro
In general, a trailing stop is designed to lock in profits or limit losses as the trade moves in your favor. It moves in one direction only and once it has moved, it cannot move back.
Trailing stop helps you take in more profit than originally planned. You need it when your trade is going so well, you feeling greedy and you need to take more pips. Using trailing stop is better because you can lock the originally planned profit and take more.
Be sure to use stop-loss to save your capital and avoid large losses, because this is what distinguishes a professional trader from a player who is just trying to get more, without significant investments.
Are these questions to help program an EA?
Yes dear. The EA opens trades with TP and SL but starts trailing once the trade moves X points in my favor.
The EA opens trades with TP and SL but starts trailing once the trade moves X points in my favor.
Thank you. It seems you are talking of Trailing Take Profit (TTP), though I asked these questions with reference to Trailing Stop. Thanks