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Trailing Stop Loss for beginners

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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. 🍻

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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

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A couple of videos which you may find useful...

 

 

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