How to Use Trailing Stop

[forexduke]

Trailing stop is used to lock your profit. To use trailing stop, right click the floating position, in the “terminal” window, you would like to apply the trailing stop, choose “Trailing Stop”, and pick the desired points.

Let say if you have a positive floating “buy” position. You are not so sure that the price will go further up, but in the mean time, you are not so sure either that the price will go down. In this condition, just use the Trailing Stop. For example if you use “15 points Trailing Stop”, your current price is at 1.500, it means that you are locking your profit at the price of 1.485. When the price reaches 1.485, your position will be closed automatically. However, if the price goes up, let say it raises until at 1.585, you are locking your profit at the price of 1.570. (Try it in your virtual account first to get further understanding)

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