If Done Trailing Stop | Forex Factory

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If Done Trailing Stop

  • #1
  • First Post: Mar 17, 2009 10:03am Mar 17, 2009 10:03am
Hi, this is my first post, and I'm looking around for the right broker to start trading with.
One of the things I would like to be able to do, is to make a if done order that is a trailing stop.
I don't want the trailing stop to begin with, but once a certain profit has been made I would like the software to automatically place a new trailing stop rather than the more usual take profit.
I've tried GFT and they don't do it (they just do trailing stops that have to be made manually) - anyone know if any broker can? Plus it needs to be server side.
  • #2
  • Mar 17, 2009 10:23am Mar 17, 2009 10:23am
Quoting Jamesfx
Hi, this is my first post, and I'm looking around for the right broker to start trading with.
One of the things I would like to be able to do, is to make a if done order that is a trailing stop.
I don't want the trailing stop to begin with, but once a certain profit has been made I would like the software to automatically place a new trailing stop rather than the more usual take profit.
I've tried GFT and they don't do it (they just do trailing stops that have to be made manually) - anyone know if any broker can? Plus it needs to be server side....
I'm not aware of any brokers that offer such a possibility, but what you could do is just implementing it on your own through your broker's API, trading through an EA.

If you want to have that feature while you trade manually, there is another solotion: write a program that automatically gets the tickets of your open trades and implements that trailing stop once you're up by a pretetermined number of pips; then, keep the program running while you trade manually on your trader's platform.

The problem with this, though, is that you'll have to keep the program running as long as those trades are open. Moreover, unless you can send anything like what MT4 calls a "magic number" to differentiate your manual orders, all the trades you make while the program is running will have that type of trailing stop.

Just my 2 cents.
  • #3
  • Mar 17, 2009 10:16pm Mar 17, 2009 10:16pm
Quoting Jamesfx
Hi, this is my first post, and I'm looking around for the right broker to start trading with.
One of the things I would like to be able to do, is to make a if done order that is a trailing stop.
I don't want the trailing stop to begin with, but once a certain profit has been made I would like the software to automatically place a new trailing stop rather than the more usual take profit.
I've tried GFT and they don't do it (they just do trailing stops that have to be made manually) - anyone know if any broker can? Plus it needs to be server side....
set t/p at fixed price(fixed profit goal),
then open another limit order at same price with -20 s/l and a trailing stop?
  • #4
  • Last Post: Mar 18, 2009 5:59pm Mar 18, 2009 5:59pm
thanks billye
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