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This tool is especially useful when price changes strongly in the same direction or when it is impossible to watch the market continuously for some reason. Trailing Stop is always attached to an open position and works in client terminal, not at the server like Stop Loss, for example. To set the trailing stop, one has to execute the open position context menu command of the same name in the "Terminal" window.
Then one has to select the desirable value of distance between the Stop Loss level and the current price in the list opened. Only one trailing stop can be set for each open position. After the above actions have been performed, at incoming of new quotes, the terminal checks whether the open position is profitable.
As soon as profit in points becomes equal to or higher than the specified level, command to place the Stop Loss order will be given automatically. The order level is set at the specified distance from the current price. Further, if price changes in the more profitable direction, trailing stop will make the Stop Loss level follow the price automatically, but if profitability of the position falls, the order will not be modified anymore.
Thus, the profit of the trade position is fixed automatically. If the price then reverses, the trailing stop will hold the last position until it is hit, or will trail higher, if the market scores a higher high again. A key difference between stop-loss orders and trailing stop orders is that the latter works with the client terminal, while stop-loss orders are placed with the server.
This means that you trailing stop order will be lost, if you close your terminal, thus leaving your trade unprotected. The stop-loss order, however, is maintained by the server and remains in force, even if you close the trading platform. Placing a trailing stop Placing a trailing stop is done by selecting the order you want to protect in the Terminal window, right-clicking on it to bring up the context menu and scrolling over the Trailing Stop button.
The pop-up window allows you to select a predetermined pip distance to the current market price, or you can specify one by clicking on the Custom… button. Only one trailing stop can be set for a single position. Here is a screenshot of the menu. Once the trailing stop order has been placed, the terminal will monitor the price to see if the position becomes profitable. As soon as the profit in points becomes equal or exceeds the specified level, it will place the stop-loss at breakeven automatically.
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|Trailing stop forex mt4||If the prices begin to move in the opposite direction, the trailing stop will hold your last profitable position until the prices hit it. They will prematurely close your trade and limit the true profit potential. You also have an understanding of how to enable and disable the trailing stops in the Metatrader 4 platform. The pop-up window allows you to select a predetermined pip distance to the current market price, or you can specify one by clicking on the Custom… button. This service is provided by XTB S. What is Stop-Loss Order? If the price grows again to 1.|
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One such tool is the stop-loss order. Before the commencement of trade, every trader decides who much capital they are willing to risk should they incur a loss. Then, traders put a stop-loss order at that amount and open a position. If the market moves against their speculations, they will be automatically given the exit when the losses hit the stop-loss.
They can protect you against unwanted losses, but they are useful only when the market moves in the opposite direction to your prediction. In other words, they cannot protect your losses. The answer is trailing stops. What is the trailing stop order? A trailing stop order is an order in the trading platform that adjusts the stop price at a fixed percent or the number of points below for buy position or above for sell position the market price of an asset forex, stock, commodity, etc.
Using trailing stop traders, define trail amount fixed number of pips or percentage for stop loss. When the price reaches the trailing stop loss level, the trailing stop will close the position. You can set it at an absolute pip number or a defined percentage after considering the prevailing market prices.
Trailing stops work on a similar model but in a different manner. You but a trailing stop on your profits. This means that the trade will continue as long as the market prices move in your preferred direction. The trailing stop will close the position once it starts to move in the opposite direction and reaches your defined percentage or pip number.
This helps in protecting the profits as this tool does not wait for losses to begin. Trailing stop example: Imagine that you are following a bullish trend. Here, your trailing stop will go higher whenever there is a new high in the market. The trailing stop continues to trail the price as long as it moves in the desired direction. It will maintain the desired percentage or pip distance that you have selected.
If the prices begin to move in the opposite direction, the trailing stop will hold your last profitable position until the prices hit it. Then, it will begin to trail the prices again if they move higher. The notable difference between a trailing stop and stop-loss is that the latter is placed with a server while the former with a client terminal. What does this mean? It means that you will lose your trailing stop order once your terminal is closed.
For more information about the built-in trade functions, see the list here. This means you are locking the profits until there is a correction in the opposite direction. If you experienced any problems with the Trailing Stop or have some practical feedback, let me know in the comments. Still, have no trading account yet? Open an account at one of my trusted brokers suitable for algorithmic trading completely for free and start testing today!
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