Good morning folks, I studied (and still study) at babypips school, so I know what a trailing stop is. Bu I have a doubt.
Just an example: I buy EUR/USD at 1.3100 and I have a triling stop of 10 pips.
Then the price is 1.3105. Now I think my stop loss is 1.3095, isn’t it?
The thing is, if my trailing stop is 10 pips, do I have to wait 10 pips to see my stop loss moving forward?
So in this situation, if I had a long position on EUR/USD at 1.3100, and the price is 1.3105 (my trailing stop is 10 pips) my stop loss would be 1.3090 and not 1.3095.
Thanks for the explanation guys :7:
As a rule you are correct, however I have seen platforms where the trailing stop does not come in until the 10 pips are reached
Yes, if you use MT4, the platform will only accept the T/S once price has moved in your favour for at least the distance of the traiiling stop (at least with ECN brokers, not sure about others).
O.
Thanks Oliver, do you know something about OANDA?
Not personally, no.
But I have read posts by some members who I consider ‘serious about trading’ and ‘trustworthy’ stating that Oanda is ok.
From what I know, the best thing about them is the fact that you are allowed to define your position size totally freely, using steps of a single dollar … which doesn’t only have the advantage to be perfect for new traders who want to start off with smaller amounts, but which also allows perfect compounding strategies, as you are able to risk precise percentages of your equity … which is not possible even with a broker allowing micro lots as the smallest position size.
O.
Ok, OANDA is ok in my opinion. It seems OANDA moves T/S for each pip movement. Thank you guys 