Trailing stop without initial stop loss? - page 2

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samy Salah #: thank you, you made it clear :)

That explanation was for a Buy position.

For a Sell position the MFE would be the Ask price instead of Bid. Sell positions open at the Bid price.

 
Fernando Carreiro #:

Yes!

Right after opening, the MFE would be the Bid price, which would be ( Ask - spread ), or [opening price] - [spread].

Sorry, one last question

Is trailing stops saved in the trading platform like TP/SL or must be always connected or VPS to keep the trailing stop active?

 
Fernando Carreiro #:

That explanation was for a Buy position.

For a Sell position the MFE would be the Ask price instead of Bid. Sell positions open at the Bid price.

Yes I got it

Let me ask another question

Suppose I got my profit target and want to ;ock the profit at thos point and trail it by xx points, for example

Buy 0.01 lot XAUUSD @ 1995.00 and reached my profit target @1997

If I set trailing 1000 points from 1997, it will set stop loss at 1996, then am losing $1 of my profit

To keep the full profit I have to wait until i get price 1998 then set 1000 points trailing stop

Is there anyway to lock the profit and set 1000 point trailing once I reach my target @1997 without waiting 1998?

 
samy Salah #:

Sorry, one last question

Is trailing stops saved in the trading platform like TP/SL or must be always connected or VPS to keep the trailing stop active?

the sl is sent to the broker, the trade is modified with the sl. But then, if the sl is to be moved again, the trading terminal must be connected, ALWAYS.

 
samy Salah #: Sorry, one last question Is trailing stops saved in the trading platform like TP/SL or must be always connected or VPS to keep the trailing stop active?

The stop-loss itself is sent to the broker, but the trailing activity is applied by the MetaTrader terminal itself, so it must remain active and connected for the trailing stop to continue to follow the price.

 
samy Salah #: Yes I got it. Let me ask another question. Suppose I got my profit target and want to ;ock the profit at thos point and trail it by xx points, for example Buy 0.01 lot XAUUSD @ 1995.00 and reached my profit target @1997.If I set trailing 1000 points from 1997, it will set stop loss at 1996, then am losing $1 of my profit.To keep the full profit I have to wait until i get price 1998 then set 1000 points trailing stop.Is there anyway to lock the profit and set 1000 point trailing once I reach my target @1997 without waiting 1998?
For more advanced or specialised scenarios, you will have to program an Expert Advisor (EA) to assist you in your trading.
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