trailing stop question

I want to set a trailing stop after TP point is it possible?

my TP is 20 pips and usually price hit my TP but i dont want to close my position right away. if I set a trailing stop of 10 pips after TP hited I can do 50 pips .

I use a system that is profitable but for more I need to handle this ...

thanks for tecnical mt4 tips

Re: trailing stop question

I want to set a trailing stop after TP point is it possible?

 

my TP is 20 pips and usually price hit my TP but i dont want to close my position right away. if I set a trailing stop of 10 pips after TP hited I can do 50 pips .

 

I use a system that is profitable but for more I need to handle this ...

 

thanks for tecnical mt4 tips

Hi darkxxl,

Well, this would depend on your broker's software or so called the 'trading terminal'. If you are using MetaTrader, there is a provision for using trailing SL. Here are info that you may find helpful:

hxxp://www.earnforex.com/blog/2009/04/trailing-stop-in-metatrader-4

After the market hits your TP, don't close out the position. Just bring the initial stop loss to breakeven. And then, set the trailing SL.

Even if you don't use MT4, this could be done manually.

cheers

Re: trailing stop question

thanks sheetal,

I checked but i dont realy think that this ea will be answer for me . I use meta trader 4 and I know how to use trailling stop ( i think :) ) but it should be another way to program a trailing stop after certain price level..........

like after eurusd 1.3600 set a trailling stop of 10 pips ... so when price hit 1.3600 program will set SL to 1.3600 and trailling stop at 10 pips.