How to use a Trailing Stop
Hey everybody!
Here is how you can set a trailing take profit automatically.
All you have to do is set a trailing trigger, which is when a specified number of pips or percentages after your trade has come in to profit and you want to start trailing your stop.
This is represented on the chart with the orange crosses.
Then, you set a trailing amount, which is the amount you want to trail your current position by.
This is represented on the chart with the blue dots.
You can see where you would have exited the trade with the red X. The red X marks the candle you would have exited the trade on, not the actual spot itself.
Here is how you can set a trailing take profit automatically.
All you have to do is set a trailing trigger, which is when a specified number of pips or percentages after your trade has come in to profit and you want to start trailing your stop.
This is represented on the chart with the orange crosses.
Then, you set a trailing amount, which is the amount you want to trail your current position by.
This is represented on the chart with the blue dots.
You can see where you would have exited the trade with the red X. The red X marks the candle you would have exited the trade on, not the actual spot itself.
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