Bf Bot Manager - Forum

Sorry for the dumb question, but can someone please explain to me how Trailing Stop Loss/Profit works (in Safety Settings) and scenarios where you'd need to use it?

I've read the manual multiple times and searched for historic posts on this forum relating to Trailing Stop/Loss but I can't seem to get my head around it. Standard stop loss makes complete sense to me, you hit the figure, it performs the action.

Like for a basic example in relation to trailing, let's say I had a strategy with a Trailing Stop Loss of £30. If my strategy was then to be £25 in profit, I understand the the trailing loss figure will be adjusted upwards to -£5? Then a loss of £5 would then either start/stop/restart my strategy, correct?

Well, what would happen if my strategy was in profit of £35? Would it then stop placing bets? Or would the figure be adjusted to +£5

It is best to test it in simulation mode and see how figures change.

If you set max profit to £50 and max loss to -£50. Then if you make profit of £20 then your max loss will change to -£30. Which means that strategy will stop when its profit/loss goes below value of -£30 instead of original -£50. This protects your profit as you will lose only £30.

Here is another case, your set max profit to £200 and max loss to -£50. Then you make profit of £80, which means that max loss is adjusted to +£30. Then your next bet loses -£60 which means that your strategy profit/loss is now £20. This stops strategy from placing further bets, protects your profit and you finish session with profit of £20!

Please note that this rule will not limit your bet sizes so that you never lose more than you have set max loss to. It will only stop strategy from placing new bets when max profit/loss values are exceeded!