Mandl -
Trailing Stop Step Pips is the number of pips to incrementally increase your Trailing Stop. You could set it at 5, then every 5 pips in favor of your position the TS is also moved upwards 5 pips - it allows you to capture a few more pips if there is a bit more movement in price than you anticipated.
The 20 in the ATR is the number of days used only for calculating the ATR only, the 20 by itself has no bearing on the multiplier you use. ATR is an indication of volatility in price action; think of it as the markets’ interest in trading. Lots of interest, lots of movement (volatility). Unless you had an ATR indicator in your chart you wouldn’t see the ups and downs, but they coincide with those nice trends we like to catch.
The ATR multiplier simply attempts to take advantage of high market interest (volatility) by allowing you to “pad” your pips – using a multiplier, so that's why the 1.3 (or whatever number you choose). Yes, I agree, 20 or 30 would wipe you out in a heart beat.
Trailing Stop Step Pips is the number of pips to incrementally increase your Trailing Stop. You could set it at 5, then every 5 pips in favor of your position the TS is also moved upwards 5 pips - it allows you to capture a few more pips if there is a bit more movement in price than you anticipated.
The 20 in the ATR is the number of days used only for calculating the ATR only, the 20 by itself has no bearing on the multiplier you use. ATR is an indication of volatility in price action; think of it as the markets’ interest in trading. Lots of interest, lots of movement (volatility). Unless you had an ATR indicator in your chart you wouldn’t see the ups and downs, but they coincide with those nice trends we like to catch.
The ATR multiplier simply attempts to take advantage of high market interest (volatility) by allowing you to “pad” your pips – using a multiplier, so that's why the 1.3 (or whatever number you choose). Yes, I agree, 20 or 30 would wipe you out in a heart beat.
