• Registered: 2011-04-02
  • Posts: 5

Topic: Stop Loss Issues

Hi All,
I am still reasonably new at this, so I appologise in advance if I am about to ask something that has already been covered.  I have read most entries here, but cannot find what I am after.

Can anyone please offer advise or help with which indicators or logic would best suit the following scenario.

I want to set an initial stop loss at the low of my trigger candle.
Then, once the position is X amount of pips in front, I want to close out half the position and move my stop to break even.
Then I want to implement a trailing stop by either a set number of pips, or trailing up at the low of the last x number of candles?
For the life of me I cannot work out which sets of logic best suit this senario, if anyone could please point me in the right direction or show an example it would be greayly appreicated.

Thanks in Advance,
Regards
Dolmio

  • footon
  • footon
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  • Registered: 2009-08-17
  • Posts: 2,969

Re: Stop Loss Issues

It's a good exit plan but unfortunately it cannot be implemented in FSB, if you want to use a trailing stop, it'll be fixed and used right away from the start. Partial closing is not a feature either. So, combining BE and trailing is possible, but you have to make a compromise on those, too.

  • Registered: 2011-04-02
  • Posts: 5

Re: Stop Loss Issues

Thanks for that footon.
Would it be possible for you to show me how to do that much at least, so I can play around with it.
Cheers
Dolmio

  • footon
  • footon
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  • Registered: 2009-08-17
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Re: Stop Loss Issues

I forgot to mention that you can mix them only in FST (FSB doesn't have BE option), which means testing can be done only while demo trading.

Setting it up is quite straightforward - choose Trailing Stop in Closing Point slot, BE is in Strategy Properties.