Shanez
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Advanced Trailing stop loss usage
in IG Trading Support - Dealing Questions
Posted
How do I setup a trailing stop loss to meet the following conditions:
1. Let's call Risk "R" the value between entry level and stop loss level.
2. I want to setup a trailing stop loss.
3. The trailing stop loss should only move when price level moves in my favour 1.1 x R.
4. When it moves it should move to 1.1 x R above entry level.
5. All this should be achieved without the distance between the current price level and the new stop loss level being greater than R (should be as close to new level as possible).
I look forward to hearing back from you.
Kind regards,
Shanez