Trailing stop loss

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  • #9848
    David Roworth
    Participant

    Hi Support,

    Im trying to enable one of the following scenario

    1) Entry is place at price x. I want to then set the SL at 50 pips below (or above) Entry and then it follow me up (or below) at 50 pips the level (for either buy or sell)

    2) The more ideal option is place entry at x. Have the stop loss at 50 Pips but if the pips go in my favor, then after gaining 20 Pips to then set SL at entry

    Also, how do you get the copier to close out some of the winning pips but then keep going? I think that would help greatly. Im trying to enter only one trade rather than 3 x TP’s and if they call hit SL its a big loss.

    Thanks for any info in advance!!

    #9852
    Veronika Momir
    Moderator

    Hi David,

    1) In the EA’s inputs, there is a section called Custom Defined Trading Rules. There you can set Trading Rule for SL as Fill in Section Custom SL, and below in Custom SL field, enter 50.

    2) To set up the BE rule, in Set Break Even Rule choose At open price. Below in Pips Trigger From Open Price set at how many pips in profit the BE should be activated, and in Pips Offset From Open Price, set how many pips offset to use from open price, to cover the spread for example.

    Also, you can open only one trade from a signal with multiple TPs. In Custom Defined Trading Rules, enable only Trading TP1 Price. Additionally, you can choose how the TP is calculated, it can be the smallest, largest, highest, or custom pips as with the SL.

    Let me know if I answered all your questions.

    Telegram.Forex

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