Topic: Stop Loss Issues
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,