Need Help

[AJC85]

Under the Inputs , what do these mean and represent?

Orders Configuration
Trailing start in points
Trailing step in points

 

[Joeboy]

Please check this thread:

5 Ways to Limit Trading Losses in Galileo FX

One of the secrets of being profitable in trading is controlling losses. And that’s why in Galileo FX we created 5 different ways to limit trading losses. If you make large gross profits but also large losses, your net profits get decimated: NET PROFITS = GROSS PROFITS - LOSSES If you want...

forum.galileofx.com

 

[AJC85]

Thank you for you reply, I do understand profit and loss. So are these part of the ways to limit the loss, and if so how do they do it? I have not seen any information regarding these and how they operate while the program is running. I am wanting to know how to use them in the algo.

Thank you

 

[scrappyjedi]

What Joeboy shared with you is the best explanation of that!

 

[Joeboy]

Thank you for you reply, I do understand profit and loss. So are these part of the ways to limit the loss, and if so how do they do it? I have not seen any information regarding these and how they operate while the program is running. I am wanting to know how to use them in the algo.

Thank you

• Trailing Start defines how many points in profit the trade must reach before the trailing stop begins to activate. For example, if you set Trailing Start to 50 points, the trailing stop will only activate once the trade is 50 points in profit.
• Example: If the market moves 50 points in your favor, Galileo FX will begin trailing the stop loss.

• Trailing Step determines the increments at which the stop-loss will move as the trade continues to gain profit. For example, if you set Trailing Step to 150 points, the stop loss will move by 150 points once the price has moved an additional 150 points in your favor after the Trailing Start has been triggered.
• Example: After the trade is 50 points in profit (as per the Trailing Start setting), and the market moves another 150 points, the stop-loss will shift by 150 points.

 

[Enola]

The way the Trailing Start and Step works is based off of your Entry Point and the movement in the profitable direction of your trade. So it start with your Entry Point which the other settings will help you adjust. Once a trade has been triggered, the Entry Point will show as the first Price column in your summary section of your platform where the trade is summarized. If you have a Stop Loss setting in place, the trade summary will also show the Stop Loss point as well. If the trade moves in your favor, the Trailing Start setting identifies when you would like to activate the first Trailing Step. This would be (Entry Point + Trailing Start) which will adjust the Stop Loss to be (Entry Point + Trailing Start - Trailing Step). Following this, the Trailing Step will be the only setting that will cause future adjustments at a rate of (Previous Point + Trailing Step) adjusting the Stop Loss to (Current Point - Trailing Step). Here is a numerical example with the settings of Trailing Start of 10 and Trailing Step of 10 so it is easier to follow:

Entered at 100. Trailing Start triggers at 110 (Entry Point plus Trailing Start). Stop Loss has now been moved to 100 (Entry Point + Trailing Start - Trailing Step). At 120 (Previous Trailing Step of 110 + Trailing Step of 10), Stop Loss is moved to 110 (Current - Trailing Step). At 130 (Previous Trailing Step + Trailing Step of 10), Stop Loss is moved to 120 (Current - Trailing Step).