Jump to content

Trailing Stop Loss for beginners

Recommended Posts

Thanks to @Mercury last week, I realised I needed to learn how to do stop losses.

While I wrote of the virtues of jumping from a demo to a live account on this forum, I now see this is one thing I DEFINITELY should've of nailed before making the leap.

So... from what I see the best option for this is the Trailing Stop Loss -- take your profits while you can. 

Finally, my question: can I set a trailing stop loss on an already open position? Say I want to place a bet quickly but don't have time to work out the math using ATR.

Any advice would be most grateful. 🍻

  • Like 1

Share this post


Link to post

Hi @eloronz yes you can place a auto trailing stop on a open position, just go to the positions tab, click on the Stop box the select the arrow for Trailing stop (top pic).

Or you can manually trail a stop as in the bottom pic by moving the stop to just under the higher low after price has pushed up through the higher high.

image.thumb.png.5bd90892857e9e30cb587707d53f0ffa.png

 

image.png.830854df76b5811bc19e6868924fef03.png

  • Like 1

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      8,083
    • Total Posts
      44,663
    • Total Members
      55,707
    Newest Member
    Sharath
    Joined 24/02/20 04:03
  • Posts

    • The zombie apocalypse is spreading, the indices are falling https://uk.reuters.com/article/uk-china-health/concern-over-coronavirus-spread-as-cases-jump-in-south-korea-italy-and-iran-idUKKCN20H03O
    • Hammer time!
    • Hi  u can try looking at videos on You tube regarding Options. there are quite  few there, but don't pay any money to these institiutions. I am sure I have seen in past few Free videos . good luck in your trading . 
×
×