Trailing Stop Profit/Loss
Posted: Thu Feb 09, 2023 11:59 pm
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
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