Trailing & BreakEven

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Hi Buddies,

I am newbie in world of MQL4. I am learning about MQL4 . I want some guidance regarding Trailing Stop and Breakeven. I want to know the main difference between them.

Thanks ,

Kind Regards,

traderFx89.

 
  1. Trailing Stop is a Stop Loss that is moving up (a buy,) following the market.
  2. Breakeven is when the Stop Loss is at the open price.
  3. This forum is mostly about coding MQL4 programs. You need to know Forex first. Go to school School of Pipsology | Learn Forex Trading
 
WHRoeder:
  1. Trailing Stop is a Stop Loss that is moving up (a buy,) following the market.

Thanks WHRoeder for giving the guidance

One more thing i want to ask is that in trailing stop can we move Take Profit like stop loss for gaining maximum profit.

For Example , we have take a buy trade with TP 20 pip and SL 30 pip , if the market move in our favor like our order profit is 10 or 15 pip can we set TP to 40 pip and move SL to 10 pip above order open price.

Thanks for suggesting me to go to school of forex .Afterwards i will go there for better understanding.

Kind Regards,

traderFx89

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