Topic: How to set a Trailing Stop activated at breakeven
Is it possible and how to set a Trailing Stop activated only when trade reaches breakeven?
(with an additional fixed Stop always in place)
- Popov
- Lead Developer
- Offline
Re: How to set a Trailing Stop activated at breakeven
Trailing Stop is activated when the profit reaches the set level.
You can use Trailing Stop set on the Closing Point slot together with Stop Loss set in the Strategy Properties.
Re: How to set a Trailing Stop activated at breakeven
Sorry I'm still not clear:
"Trailing Stop is activated when the profit reaches the set level."
I don't see a setting for 'Set profit level' in Closing Point/Trailing Stop
- Popov
- Lead Developer
- Offline
Re: How to set a Trailing Stop activated at breakeven
When you set "Trailing Stop" it doesn't start trailing immediately after the market starts moving in your direction. It first wait the market making the set Trailing Stop points in your direction.
For example, if you set Trailing Stop 200 pints and open long at 1.2200. The trailing stop will be initially set at 1.2000 and will wait for the market to reach 1.2400. Once the market reach that level the Trailing Stop will jump to 1.2200. It will move up if the market continues going up. (Of course you always lose the spread.)
Taking that into account TS is somewhat similar to Break Even, but it continues in your direction on further market move.
Re: How to set a Trailing Stop activated at breakeven
Thank you Popov, for your patient and helpful explanation.