Hi! I am still a relative newbie to understanding all the ins & outs to placing Forex trading orders.
Often I have opened a Buy/Sell Stop order at the market price; set my TP at a multiple of the (Entry - Stop Loss) value and have seen from later results that if I had been able to close part of the order along the way I would have been able to consolidate my profit - which I have been told is the function of a Jumping Stop.
Recently an overheard comment; " Just set a Buy/Sell stop order and then open pending limit orders to close part of the trade at various levels of profit." caught my interest because, until that minute, I had no idea that such a thing was possible.
Can anyone clue me in one way or the other please?
Thanks.
Much appreciated
Often I have opened a Buy/Sell Stop order at the market price; set my TP at a multiple of the (Entry - Stop Loss) value and have seen from later results that if I had been able to close part of the order along the way I would have been able to consolidate my profit - which I have been told is the function of a Jumping Stop.
Recently an overheard comment; " Just set a Buy/Sell stop order and then open pending limit orders to close part of the trade at various levels of profit." caught my interest because, until that minute, I had no idea that such a thing was possible.
Can anyone clue me in one way or the other please?
Thanks.
Much appreciated
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