Trailing Stop

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Could someone explain how does trailing stop works in MT4? Mt4 provides minimum value as 30 points as trailing stop. What does it mean if the value is set for EURUSD at 1.07612, at what value will the sell trigger?

Similarly for USDJPY it is set at 113.123 then at what value will it be sold?

 
Baljit Oberoi:

Could someone explain how does trailing stop works in MT4? Mt4 provides minimum value as 30 points as trailing stop. What does it mean if the value is set for EURUSD at 1.07612, at what value will the sell trigger?

Similarly for USDJPY it is set at 113.123 then at what value will it be sold?

Have you read the documentation, either Online or via the F1 Help in the application itself?
Trailing Stop - Trading - MetaTrader 4 Help
Trailing Stop - Trading - MetaTrader 4 Help
  • www.metatrader4.com
Stop Loss is intended for reducing of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, Stop...
 
Baljit Oberoi: What does it mean if the value is set for EURUSD at 1.07612,
No such thing. There is the Bid price and the Ask price. You buy at the Ask and sell at the Bid. Therefor for a sell order, your SL must include the spread.
 
whroeder1:
No such thing. There is the Bid price and the Ask price. You buy at the Ask and sell at the Bid. Therefor for a sell order, your SL must include the spread.
Thanks for the response. My question is about the point. if the EURUSD Ask is at 1.07612 then what is the value of 1 point?
 
Baljit Oberoi: My question is about the point. if the EURUSD Ask is at 1.07612 then what is the value of 1 point?

In the case of EUR/USD:

  • For a 4 digit broker, 1 Point = 1.0 Pip = 0.00010 Price delta
  • For a 5 digit broker, 1 Point = 0.1 Pip = 0.00001 Price delta

In the case of USD/JPY:

  • For a 2 digit broker, 1 Point = 1.0 Pip = 0.010 Price delta
  • For a 3 digit broker, 1 Point = 0.1 Pip = 0.001 Price delta
 
Baljit Oberoi:  if the EURUSD Ask is at 1.07612 then what is the value of 1 point?
    • You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
    • Account Balance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the SPREAD, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)
    • Do NOT use TickValue by itself - DeltaPerLot
    • You must normalize lots properly and check against min and max.
    • You must also check FreeMargin to avoid stop out
    The answer to your question is OrderLots * _Point * DeltaPerLot
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