Both forex trading system live
and demo accounts can now set a stop-loss order
that will electronically adjust itself as the
market rate moves in the direction of your open
position. When setting
a Stop-Loss order, you will now see an Advanced
button.
Clicking on that button brings up our new Trailing
Stop feature. First check the box labeled Trailing
Stop. Then you can enter the number of pips that
you would like your
stop-loss order to trail behind the current market
rate. The stop-loss order will move up in increments
of the pip value that you place in the Rate Min.Move
field.
For Example:
You buy GBP/USD at 1.8241,
and place a stop at 1.8231, with the trailing-stop
feature set at 50 pips. If and when the GBP/USD
rate goes to 1.8291, your stop-loss order will
automatically move to 1.8281. This would lock
in a profit of 40 pips. The stop loss order
would move up continually every time the GBP/USD
rate increases by 50 pips.
After setting your Trailing Stop
rate, you can adjust it at a later time by left
clicking in the Open Positions window under
the column labeled Until Tr. Stop Move. A Stop
Order window will come up, you can adjust the
rate selected next to Rate Min. Move, and hit
the Change button. You will then see the setting
updated in the Open Positions Window.
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