Trailing stop loss and move stop loss to break even

DimitriK
02 Aug 2013, 18:04

Trailing stop loss and move stop loss to break even

Hi Mainie

A Trailing Stop Loss is a stop which follows the price a certain distance of pips that you set, instead of you manually moving your stop.

Break Even means that you cannot lose any money from a trade because you moved your stop loss to the point that you opened the trade plus the spread, so that even if your stop is hit you don't lose any money.

Now that you understand what a trailing stop is and what break even is, I think that the answer to your question is self explanatory.

kricka
02 Aug 2013, 21:45

Hi,

you can select move to break-even or traling stop loss, not both at the same time. Break-even is with commision included and based on net profit.

Wish they had a check box to enable a default setting instead of the need to click 3 times to have the protection in place.

Mainie
05 Aug 2013, 13:01

move stop loss to break even

Thank you for your response

As I try the feature 'move stop loss to break even' the break-even level is set 2 pips away from the opening price in the most of the currency pairs.

Why 2 pips? If this is fixed and depending on the currency pair, could you guy possibly provide the table or something?
Because at the moment 'Break-even is with commision included and based on net profit' is not telling me fully truth.

Thank you :) 

kricka
05 Aug 2013, 16:53

I agree it would be nice if spotware could give us the exact calculation used in the stop loss. I think the 2 pips is just to ensure its above break even but more info is needed so we know the rules of the stop loss and how it differs with different currency pairs.

cAlgo_Fanatic
08 Aug 2013, 10:46

Move Stop Loss to Break Even depends on commissions. Move to Break Even tries to set the stop loss so that your net profit will be 0 if it is triggered.