Explanation needed for Trailing Step
Hello dear traders,
I wish to use a trailing stop EA with intergrated Trailing Step function.
Is there somewhere maybe for once and for all a clear educational explanation of how an trailing stop and especially Trailing Step exactly works ?
Preferably with a schematic example...
Any help is welcome, because there is as yet so much doubt by a lot of people. Only if I can setup (understand) my EA, I can start live trading with a clear conscience.
Thanks,
Gilbert (Belgium)A Trial of an explanation.....
//TrailingStop routine buy
if ((TrailingStop>0)&&(OrderStopLoss()>=OrderOpenPrice())) {if (OrderStopLoss()<pBid-(TrailingStop+TrailingStep)*pp) {
ModifyStopLoss(pBid-TrailingStop*pp);
}
}
First line is when the trailingstop becomes active the breakeven has already moved the orderstoploss to orderopenprice when trailingstoproutine will happen Now this
Trailingstop 15 (pips) Trailingstep 1 (pips) (1 pip is 10 points)
and orderstoploss == orderopenprice 1.30000
Bid reached 1.30150, every point higher will modify the order when there is no Trailingstep means no trailingstep
Bid 1.30151 modify orderstoploss to 1.30001
1.30152 ==> 1.30002
1.30153 ==> 1.30003
1.30154 ==> 1.30004
and go on makes great chance error server too busy
With trailingstep this will happen
1.30151 ==> 1.30000 stays the same until
1.30160 ==> 1.30010 the space between orderstoploss and bid price was now 16 pips and the order was modified to an orderstoploss of 15 pips
the next time will happen at 1.30170.
Orderstep 5 (pips) means when the orderstoploss will move this way
20 pips profit then move orderstoploss 5 pips
1.30000 ==> 1.30050 ==> 1.30100.......
Ofcours it is never the bid price move exactly 1 point but you get now an idea how orderstep works and why use orderstep....
A Trial of an explanation.....
//TrailingStop routine buy
if ((TrailingStop>0)&&(OrderStopLoss()>=OrderOpenPrice())) {if (OrderStopLoss()<pBid-(TrailingStop+TrailingStep)*pp) {
ModifyStopLoss(pBid-TrailingStop*pp);
}
}
First line is when the trailingstop becomes active the breakeven has already moved the orderstoploss to orderopenprice when trailingstoproutine will happen Now this
Trailingstop 15 (pips) Trailingstep 1 (pips) (1 pip is 10 points)
and orderstoploss == orderopenprice 1.30000
Bid reached 1.30150, every point higher will modify the order when there is no Trailingstep means no trailingstep
Bid 1.30151 modify orderstoploss to 1.30001
1.30152 ==> 1.30002
1.30153 ==> 1.30003
1.30154 ==> 1.30004
and go on makes great chance error server too busy
With trailingstep this will happen
1.30151 ==> 1.30000 stays the same until
1.30160 ==> 1.30010 the space between orderstoploss and bid price was now 16 pips and the order was modified to an orderstoploss of 15 pips
the next time will happen at 1.30170.
Orderstep 5 (pips) means when the orderstoploss will move this way
20 pips profit then move orderstoploss 5 pips
1.30000 ==> 1.30050 ==> 1.30100.......
Ofcours it is never the bid price move exactly 1 point but you get now an idea how orderstep works and why use orderstep....Good, Learn it , 
Good, Learn it ,
can i use trailing ea this type suppose i open a grid i buy limit sell stop after a lot of order open i seem the pair now moov to up ward means buy limit order should be given profit and i want sell stop order should be break even not at a point but i want one by one slowly slowly means i want every sell order take 100 pips form it open point means if my sell grid is 100 pips gap and one sell order is 170.000 then i want it breack even 169.900 and second sell order at point 169.900 should be break even 169.800. is that possible
can i use trailing ea this type suppose i open a grid i buy limit sell stop after a lot of order open i seem the pair now moov to up ward means buy limit order should be given profit and i want sell stop order should be break even not at a point but i want one by one slowly slowly means i want every sell order take 100 pips form it open point means if my sell grid is 100 pips gap and one sell order is 170.000 then i want it breack even 169.900 and second sell order at point 169.900 should be break even 169.800. is that possible
amitkk
If your order is opened at 170.000 it can not be break even at 169.900 (regardless if it is a buy order or a sell order).
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Hello dear traders,
I wish to use a trailing stop EA with intergrated Trailing Step function.
Is there somewhere maybe for once and for all a clear educational explanation of how an trailing stop and especially Trailing Step exactly works ?
Preferably with a schematic example...
Any help is welcome, because there is as yet so much doubt by a lot of people. Only if I can setup (understand) my EA, I can start live trading with a clear conscience.
Thanks,
Gilbert (Belgium)