DislikedOK guys, still in sniper mode [Don't worry, 50 cal!] Time for a TurismoTek daily enquiry: I am having trouble understanding the trailing stop/trailing step (using WUKAR_WB_Trail_v1_3_3e or WUKAR_WB_Trail_v1_3_2e) If possible can somebody explain these functions to me using an example of an 150 target and 50 pip stop (for simplification) or point me in the right direction to investigate this... If anybody can take the time out to help me with this issue it would be greatly appreciated, I don't feel comfortable using the trailing stop without full...Ignored
The trailing step tells the trailing stop where to move too.
For your example:
Once your pending order is active with say a SL = 50 pips,
If you set the step = 50 pips then once price moves 50 pips in your favor then the step function will move the SL line to break even.
When price reaches entry + 100 pips then the step function will move SL to BE + 50 (in this case that would be entry + 50) and so on.
To be technically correct you also need to consider the effect of bid/ask/spread as applicable.
As an example open up a very small position on a very volatile pair and observe what happens on the chart.
It will become clear soon enough but its a good question because all traders should be familiar with the tools that they trade!
Hope that helps.
Masterrmind..........
Master your Mind then Master your Trades
