Hello,
I need help. I want to use the trailing stop feature with my broker but there is something I'm missing in understanding this thing.
Ok, I know how to enter a stop, but how exactly does the trail work? I've talked to tech support and they gave me examples of setting the trail 20-30 pips behind the market but I don't really understand the reasining behind that.
If I want my stop to move pip by pip in the direction of my trade, would I set that as a one pip trail? When I go long, I want my stop to come up with each profitable pip I earn.
Can some please help me?
Thanks in advance.
I need help. I want to use the trailing stop feature with my broker but there is something I'm missing in understanding this thing.
Ok, I know how to enter a stop, but how exactly does the trail work? I've talked to tech support and they gave me examples of setting the trail 20-30 pips behind the market but I don't really understand the reasining behind that.
If I want my stop to move pip by pip in the direction of my trade, would I set that as a one pip trail? When I go long, I want my stop to come up with each profitable pip I earn.
Can some please help me?
Thanks in advance.