How can I use the trailling stop correctly?
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In this example I put it thinking about the following:
- Activate the Trailling stop when the price reaches 200 pips
- When the Price reaches 200 pips, move the stoploss to 100 pips of profit from the opening order price
- Move every 20 pixels as the price moves in favor of profit
Is everything I said correct?
Is there another way more efficient? -
@fabiobioware No, your configuration right now will move the SL in 20 pips segments. It is correct that it will activate 200 pips away from open price, but once it hits that distance, teh SL will be moved to 40 pips above open price. Every 100 pips above the current SL level, the SL level will move 20 pips. That is what it is doing now.
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@l-andorrà 40 pips ? why? no understand reason for the number 40, i not set 40 ...
You can explain? -
Because trailing stop and trailing step are different concepts. Just hover the mouse on them and you will read the difference. Because of your trailing step is 20 it will only move from 0 to , 20, to 40, to 60, etc.