there are some points for your view of trailing stop
1. To perform the trailing stop the metatrader must be online(you must not shut down the system)
2. maybe your broker does not allow the trailing stop for it`s clients.
3.the amount of trailing stop you choose is the difference between your entry price and the amount of price your order is in the profit.
for example:
trailing stop=20
entry price =1.1100
current price=1.1125
which means your stoploss moves to the price =1.1105(5 pips of profit)
it will follow it up.
1. To perform the trailing stop the metatrader must be online(you must not shut down the system)
2. maybe your broker does not allow the trailing stop for it`s clients.
3.the amount of trailing stop you choose is the difference between your entry price and the amount of price your order is in the profit.
for example:
trailing stop=20
entry price =1.1100
current price=1.1125
which means your stoploss moves to the price =1.1105(5 pips of profit)
it will follow it up.
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I have a question about trailing stops. This is all on the GBP/USD. I set a 15 pip trailing stop loss. I entered a buy at 1.960. It took out a 4 pip spread. The price went long 29 pips from that entry. I wanted to see how the trailing stop worked. I let it retrace 14 pips and it took me out at 1.9660. 10 pip profit. It went back to 14 pips from where I entered but it didn’t automatically follow the price and get out when the price started to go short.
I did another trade, buy, at 1.9661. I set a 20 pip trailing stop loss. It took out a 4 pips spread. The price went long 36 pips from that entry. I let it retrace and it took me out at 1.9674. It went back to 15 pips from where I entered but it didn’t automatically follow the price and get out when the price started to back up. This trade ended up with a 13 pip profit.
Isn’t the trailing stop suppose to follow the price automatically? Please help me understand. Feel free to call if necessary.