Need Help with Trailing Stops

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.

also, this is from our member Jarius...

Trailing stops work differently based on the broker/platform.
Some trail in increments (15 pip trailing stop only moves the stop after the price has moved 15 pips in a given direction. it moves again after another 15 pips), others are pip-for-pip trailing stops (stop moves each time price moves one pip in a given direction, keeping the stop a fixed maximum number of pips away from the current price).
Some brokers have trailing stops that work on the server. Others (metatrader based brokers for example) work on the client end, meaning you turn off your system, and the stop stays where you left it last.
In some cases a trailing stop means you manually move your stop up when you want to reduce risk/lock in profits, as some brokers don't support trailing stops on their platform.
The last distinction I can think of now is that there are a couple of brokers that allow you to set trailing stops but, until price has moved in a given direction by the trail distance, you won't have a stop on your order unless you set a separate stop. So you buy at 1.2235 with a 15 pip trailing stop. IF price then drops 100 pips, you won't be stopped out, but if price moves to 1.2250, you'll then have a stop at 1.2235. If, instead you set a manual stop at 1.2200, when price moves to 1.2250, the stop moves to 1.2215 (not 1.2235).

As each broker may have different methods for trailing stops, it's important to check the broker's documetation and find out exactly how their trailing stops work.
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Or, to put it a different way.........

If you have a 1 pip trailing stop, and the price retraces by 1 pip, it will hit your stop.

Unless you're planning to trade an NFP report, then the price is going to retrace more than 1 pip a lot of the time!

i don't think you will satisfied with the result, but in any case, if the "trend" is strong, and your trailling stop get hit, put another position a few pip below that. the 20-30 pips, is for short trades, by averaging dailly pip movement of the pair, you may get mor accustomised with trailing stop.