Setting trailing stops on hedges
Joe M: Using a hedge as a stop is a strategy I have been using to manage risk on swing trades. Is it possible to set trailing stops on an order? When I have tried placing a stop order, choosing a stop loss, I can't make it become trailing. I have seen other threads about missing a trailing stop. But nothing has helped. This is also for market orders with a stop, I can't add a trail on that order either. I'm looking if there is a setting i've missed? Any help would be appreciated.
Once you have "hedged", you lock the position's loss (or profit) in place. Once it's locked you can't trail it any more.
That is why using a "hedge" instead of a stop-loss is just a waste of trading costs. Instead, use a stop-loss, and if required, use a trailing-stop afterwards.
If manual trading, you can use MetaTrader's built-in trailing stop functionality, or use one of the many trailing-stop assistant EAs.
If using an EA, then add whatever trailing-stop functionality you wish to use.
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Using a hedge as a stop is a strategy I have been using to manage risk on swing trades.
Is it possible to set trailing stops on an order? When I have tried placing a stop order, choosing a stop loss, I can't make it become trailing. I have seen other threads about missing a trailing stop. But nothing has helped. This is also for market orders with a stop, I can't add a trail on that order either. I'm looking if there is a setting i've missed?
Any help would be appreciated.