Trailing step

[Fochu]

Hello someone please explain to me how the trailing step works.
If I'm on forex pair like eur usd and I put my trailing start at 50
Trailing step at 150
My tp at 200
My stop loss at 0

When will I see the trailing stop on my charts?
Will the trailing stop loss work event if my sl is at Zero?
Please see attached file below and help me

 

[David]

Hello someone please explain to me how the trailing step works.
If I'm on forex pair like eur usd and I put my trailing start at 50
Trailing step at 150
My tp at 200
My stop loss at 0

When will I see the trailing stop on my charts?
Will the trailing stop loss work event if my sl is at Zero?
Please see attached file below and help me

In the context of your parameters:

• Trailing Start: 50
• Trailing Step: 150
• Take Profit (TP): 200
• Stop Loss (SL): 0

Here is what would happen:

1. When you open a trade, there's initially no stop loss since your SL is set to zero.
2. If your trade moves in the favorable direction by at least 50 points (the trailing start), the EA will start to manage the stop loss level. It won't immediately move the stop loss to breakeven or to the trailing start level, it waits for the trade to move another 'trailing step' points in profit.
3. When the trade is in profit by 'trailing start' + 'trailing step' (200 points in your case), the stop loss will be moved to the price level of 'trailing start' points in profit. So, after 200 points in profit, your stop loss would be moved to 50 points in profit.
4. From this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points, always keeping a distance of 'trailing start' points from the current price.

So to answer your questions, you won't see the trailing stop on your charts until the trade is in profit by 'trailing start' + 'trailing step' points. Yes, the trailing stop loss will work even if your initial SL is set to zero. The trailing stop loss doesn't need an initial stop loss to function, it operates independently.

Please note that the trailing stop is managed by the EA on the trading platform and not by the broker's server, which means that it will not work if the trading platform is not running and connected to the internet. It's also worth mentioning that the 'stop loss', 'take profit' and 'trailing stop' levels are not guaranteed and in volatile market conditions, the price could gap and these levels might not be respected.

 

[rjbtrade]

In the context of your parameters:

• Trailing Start: 50
• Trailing Step: 150
• Take Profit (TP): 200
• Stop Loss (SL): 0

Here is what would happen:

1. When you open a trade, there's initially no stop loss since your SL is set to zero.
2. If your trade moves in the favorable direction by at least 50 points (the trailing start), the EA will start to manage the stop loss level. It won't immediately move the stop loss to breakeven or to the trailing start level, it waits for the trade to move another 'trailing step' points in profit.
3. When the trade is in profit by 'trailing start' + 'trailing step' (200 points in your case), the stop loss will be moved to the price level of 'trailing start' points in profit. So, after 200 points in profit, your stop loss would be moved to 50 points in profit.
4. From this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points, always keeping a distance of 'trailing start' points from the current price.

So to answer your questions, you won't see the trailing stop on your charts until the trade is in profit by 'trailing start' + 'trailing step' points. Yes, the trailing stop loss will work even if your initial SL is set to zero. The trailing stop loss doesn't need an initial stop loss to function, it operates independently.

Please note that the trailing stop is managed by the EA on the trading platform and not by the broker's server, which means that it will not work if the trading platform is not running and connected to the internet. It's also worth mentioning that the 'stop loss', 'take profit' and 'trailing stop' levels are not guaranteed and in volatile market conditions, the price could gap and these levels might not be respected.

new guy here and this is what I was looking for...great explanation.

 

[sigje]

In the context of your parameters:

• Trailing Start: 50
• Trailing Step: 150
• Take Profit (TP): 200
• Stop Loss (SL): 0

Here is what would happen:

1. When you open a trade, there's initially no stop loss since your SL is set to zero.
2. If your trade moves in the favorable direction by at least 50 points (the trailing start), the EA will start to manage the stop loss level. It won't immediately move the stop loss to breakeven or to the trailing start level, it waits for the trade to move another 'trailing step' points in profit.
3. When the trade is in profit by 'trailing start' + 'trailing step' (200 points in your case), the stop loss will be moved to the price level of 'trailing start' points in profit. So, after 200 points in profit, your stop loss would be moved to 50 points in profit.
4. From this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points, always keeping a distance of 'trailing start' points from the current price.

So to answer your questions, you won't see the trailing stop on your charts until the trade is in profit by 'trailing start' + 'trailing step' points. Yes, the trailing stop loss will work even if your initial SL is set to zero. The trailing stop loss doesn't need an initial stop loss to function, it operates independently.

Please note that the trailing stop is managed by the EA on the trading platform and not by the broker's server, which means that it will not work if the trading platform is not running and connected to the internet. It's also worth mentioning that the 'stop loss', 'take profit' and 'trailing stop' levels are not guaranteed and in volatile market conditions, the price could gap and these levels might not be respected.

How will it work if stop loss was set to a value in this case?
For instance 100?

 

[sigje]

Anyone with experience here?
If for instance these settings are active:

• Trailing Start: 50
• Trailing Step: 100
• Take Profit (TP): 200
• Stop Loss (SL): 100

Question 1:
How will it trailing act with the above mentioned settings?

Trailing start monitoring at +50?
Trailing moves stop loss to Tstart =+50 from entry once it reach Tstart+Tstep, in this case +150 from entry?
Trailing moves the stop loss +Tstep once it goes +Tstep (in this case 150)?


Question 2:
Considering its said the trailing stop works independently of stop loss.

-If there is a stop loss, will that SL only come into play if the trade never activates trailing with Tstart + Tstep?

-If trailing has been activated, but not step. Will SL be set to Zero, or remain at the initial 100?

-Can trailing start be set without trailing stop? It will then have zero function?

 

[aasish.indarapu]

In the context of your parameters:

• Trailing Start: 50
• Trailing Step: 150
• Take Profit (TP): 200
• Stop Loss (SL): 0

Here is what would happen:

1. When you open a trade, there's initially no stop loss since your SL is set to zero.
2. If your trade moves in the favorable direction by at least 50 points (the trailing start), the EA will start to manage the stop loss level. It won't immediately move the stop loss to breakeven or to the trailing start level, it waits for the trade to move another 'trailing step' points in profit.
3. When the trade is in profit by 'trailing start' + 'trailing step' (200 points in your case), the stop loss will be moved to the price level of 'trailing start' points in profit. So, after 200 points in profit, your stop loss would be moved to 50 points in profit.
4. From this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points, always keeping a distance of 'trailing start' points from the current price.

So to answer your questions, you won't see the trailing stop on your charts until the trade is in profit by 'trailing start' + 'trailing step' points. Yes, the trailing stop loss will work even if your initial SL is set to zero. The trailing stop loss doesn't need an initial stop loss to function, it operates independently.

Please note that the trailing stop is managed by the EA on the trading platform and not by the broker's server, which means that it will not work if the trading platform is not running and connected to the internet. It's also worth mentioning that the 'stop loss', 'take profit' and 'trailing stop' levels are not guaranteed and in volatile market conditions, the price could gap and these levels might not be respected.

Will it close the trade at tp200 or will to be moved 200 pts from SL?

 

[aasish.indarapu]

In the context of your parameters:

• Trailing Start: 50
• Trailing Step: 150
• Take Profit (TP): 200
• Stop Loss (SL): 0

Here is what would happen:

1. When you open a trade, there's initially no stop loss since your SL is set to zero.
2. If your trade moves in the favorable direction by at least 50 points (the trailing start), the EA will start to manage the stop loss level. It won't immediately move the stop loss to breakeven or to the trailing start level, it waits for the trade to move another 'trailing step' points in profit.
3. When the trade is in profit by 'trailing start' + 'trailing step' (200 points in your case), the stop loss will be moved to the price level of 'trailing start' points in profit. So, after 200 points in profit, your stop loss would be moved to 50 points in profit.
4. From this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points, always keeping a distance of 'trailing start' points from the current price.

So to answer your questions, you won't see the trailing stop on your charts until the trade is in profit by 'trailing start' + 'trailing step' points. Yes, the trailing stop loss will work even if your initial SL is set to zero. The trailing stop loss doesn't need an initial stop loss to function, it operates independently.

Please note that the trailing stop is managed by the EA on the trading platform and not by the broker's server, which means that it will not work if the trading platform is not running and connected to the internet. It's also worth mentioning that the 'stop loss', 'take profit' and 'trailing stop' levels are not guaranteed and in volatile market conditions, the price could gap and these levels might not be respected.

I have one doubt
If I make the above setting, will the bot end the trade at tp-200. Since the market moved 150 points above SL will be set to 0 but what will happen when the market reach 200 points. Will the tp be stepped up or will it remain firm.
Also If I done set the tp and just set trailing step and start what will the bot do?

 

[Shane02]

I have been successful this week trying these different set ups using these pairs, EUR/USD, GBP/USD, and USD/JPY. I am also using a demo account currently.

https://galileofx.community.forum/t...ek-myfxbook-verified-with-settings.6/page-105

 

[Ruto]

I do not understand this:

"om this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points,"

if the stop loss moves up and down with the profit, it will never trigger, because if the profit sinks, the stop loss also sinks.
I would prefer if the stop loss raises in steps but never sinks, this would secure the profit ....

 

[Joeboy]

This thread would be helpful

Galileo FX Tutorial: How to Install & Use the Trading Bot

Remote Installation Service: Enjoy a professionally installed Galileo FX. Our team will remotely connect to your PC to setup Galileo FX from A to Z. Click here to learn more. Introduction Welcome! We’re excited that you’re trying out Galileo FX! In this guide we’ll walk you through how to make...

forum.galileofx.com

 

[Enola]

The precise formula would be - (Entry Price + Trailing Start Price) - Trailing Step Price. So in an example, if Trailing start was 10 and my trailing step was 25, and I entered at 100, the formula shows that my Trailing Start would trigger at 110 (100 +10) and my stop loss would be adjusted to 85 (110 - 25). Following the initial movement of my stop loss at the Trailing Start position, the Trailing Step then maintains an equal amount of distance. Stop loss increments in this example would be 85 (@110), 110 (@135), 135 (@160), etc. This also works in reverse when you are shorting, where the same example would be 100-10=90+25=115. Steps for this would then follow the pattern of 115 (@90), 90 (@65), 65 (@40), etc.

Obviously these are simplified small numbers to make an example, but the movement is in points so the formula will never change. The price of the chart you are looking at is the current number of points, and the movement of the lowest decimal point on that chart is 1 point. For example, the AUDUSD chart is often in the ballpark of 0.65600 so the increase to 0.65601 or decrease to 0.65599 would be a movement of 1 point. There is also a difference in MT4 and MT5 of roughly 24-28 points (I round to 30 for safety) between the sell and buy prices. This means when you sell, you are entering at the buy price and require roughly 30 points of movement to break even, i.e - sell at 0.65600 has to reach 0.65570 to break even. The reverse is true for buying and goes in the other direction, i.e - buy at 0.065600 has to reach 0.65630 to break even.

However, the difference in the sell and buy prices is not part of the formula because all of the calculations for the formulas operate off the buy/sell amount that you entered at. It is good to keep this in mind as you set your T/P, S/L, TStart, and TStep though. Using the above example, the settings of 10 and 25 would mean the entry point of 100 (shifted to 70) would require 40 points of movement to trigger the 110 Trailing Start. This is more important when deciding on your T/P and S/L settings because a S/L of 40 would mean that you only have 10 points of incorrect movement before triggering your S/L due to the 30 point original deficit. It is important to learn to work with and around the initial deficit to pursue profitable trades.

 

[Enola]

In the context of your parameters:

• Trailing Start: 50
• Trailing Step: 150
• Take Profit (TP): 200
• Stop Loss (SL): 0

Here is what would happen:

1. When you open a trade, there's initially no stop loss since your SL is set to zero.
2. If your trade moves in the favorable direction by at least 50 points (the trailing start), the EA will start to manage the stop loss level. It won't immediately move the stop loss to breakeven or to the trailing start level, it waits for the trade to move another 'trailing step' points in profit.
3. When the trade is in profit by 'trailing start' + 'trailing step' (200 points in your case), the stop loss will be moved to the price level of 'trailing start' points in profit. So, after 200 points in profit, your stop loss would be moved to 50 points in profit.
4. From this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points, always keeping a distance of 'trailing start' points from the current price.

So to answer your questions, you won't see the trailing stop on your charts until the trade is in profit by 'trailing start' + 'trailing step' points. Yes, the trailing stop loss will work even if your initial SL is set to zero. The trailing stop loss doesn't need an initial stop loss to function, it operates independently.

Please note that the trailing stop is managed by the EA on the trading platform and not by the broker's server, which means that it will not work if the trading platform is not running and connected to the internet. It's also worth mentioning that the 'stop loss', 'take profit' and 'trailing stop' levels are not guaranteed and in volatile market conditions, the price could gap and these levels might not be respected.

One small note about what you mentioned - In what you said for step 2, it does immediately set the S/L level. The first trigger of the Trailing Start will set the S/L to the value which equals Entry Value + Trailing Stop - Trailing Step. So if the OP entered at an even value of 500 points, the Trailing Start would trigger at 550 (500 + 50) and it would set the first S/L to 400 (550 - 150). This would put a S/L in place at a loss if the market were to shift. It then moves by the Trailing Step amount both at the value of trigger and the value it moves the S/L. So it would trigger again at 700 (550 + 150) and the S/L would move to 550 (400 + 150), providing 50 points of profit on the second trigger. So it is possible to have the S/L set while still being in a loss whenever the Trailing Step is larger than the Trailing Start. If the Trailing Start and Trailing Step are the same, the first time the Trailing Start is triggered, the S/L will be set to the entry value. If the Trailing Step is smaller than the Trailing Start, the first trigger will place a S/L that is in profit.

 

[Enola]

I do not understand this:

"om this point forward, for every 'trailing step' points in profit (150 points in your case), the stop loss will be moved up/down by the same 'trailing step' points,"

if the stop loss moves up and down with the profit, it will never trigger, because if the profit sinks, the stop loss also sinks.
I would prefer if the stop loss raises in steps but never sinks, this would secure the profit ....

The S/L doesn't ever reduce. It only moves up. What he meant by up/down was based on whether you were buying/selling (longing/shorting). The S/L will always move in a singular direction though. Up for a long/buy. Down for a short/sell.