Let say I place order GBP/USD @ 1.6124 STOP 1.6104, and the position moves into profit like 40pips, what is the procedure for move stop to 1.6144? my broker is alpari.
Assuming you’re using MetaTrader (yes???): you simply click on the positions ‘S/L’ column, a window will open, you change the ‘Stop Loss’ value there and save it (‘Place’ it I think is the option i.e. I’m posting this message ‘blind’ as I don’t have any open MetaTrader positions and don’t use MetaTrader anyway) and that’s it. One important thing to note: with MetaTrader, at most brokers, you can set a trailing stop that will move by itself (I again forget what the option is called). Be careful with MetaTrader though i.e. this trailing stop will only work if the platform if open and running. In other words: you cannot set a trailing stop using the option (if it’s available) and then close the platform and walk away (this doesn’t apply to YOUR particular question though).
Regards.
Dale.