Trailing Stop

Allows you to set Trailing Stop orders.

Trailing Stop works as follows: If the market price moves UP for a Buy position/DOWN for a Sell position, then the Trailing Stop moves with the market price, following it at the pre-set distance. If the market price moves DOWN for a Buy position/UP for a Sell position, then the Trailing Stop remains fixed and, if the market price reaches the Trailing Stop price, the order will be executed.

 

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To set the Trailing Stop distance check the “Set Trailing Stop Distance” check box in the “Stop Order” dialog box and enter the distance value in pips. Press OK. The Trailing Stop Distance value will appear in the “Tr.Stop” field of the position record and a Trailing Stop order will appear in the Orders window.

 

Note: The allowed price range is shown to the right of the price field

 

hmtoggle_plus1        Trailing Stop Example (click to expand)

In this example, a BUY position is opened. A Trailing Stop is set with a trailing distance of 20 pips. (Figure 1)

Market price = 1.0045

Stop price = 1.0025

 

Figure 1

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As the market price moves up, the Stop order will follow the market price at a distance of 20 pips. In the image below, the market price has moved up to 1.0054. The Stop order price is now 1.0034. (Figure 2)

 

Figure 2

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If the market price begins to move down, the Trailing Stop order price remains fixed. In the image below, the market price has gone down to 1.0042. The trailing stop order price has remained at 1.0034. (Figure 3)

 

Figure 3

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At this point, if the market continues to descend, the trailing stop order will be triggered when the market reaches 1.0034.

If, on the other hand, the market begins to rise, the trailing stop will remain at 1.0034 UNTIL the market price passes 1.0054 (20 pips away). At this point, if the market continues to rise, the trailing stop order price will start to rise as well, trailing the market price by 20 pips.

 

Removing non-triggered Stops, Limits, and Trailing Stops

There are two ways to remove non-triggered Stop, Limit, or Trailing Stop orders.

1.Click on the rate (“Stop” or “Limit”) field within the position record. The Stop or Limit dialog box will appear. Click Remove.

 -OR-

2.Right-click on the position record and choose Stop, Limit, or Trailing Stop from the pop-up menu. The Stop or Limit dialog box will appear. Click Remove.
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