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In the exciting world of forex trading, where currencies dance to their own tunes, safeguarding our investments is vital. One strategy that shines in this regard is the regular trailing stop loss. This technique involves maintaining a fixed distance between the current market price and the stop loss. It’s like having a security rope while rock climbing – as you ascend, the rope ensures you won’t fall too far.
Target of function:
For Buy: Automatically move stoploss below the highest price a fixed distance in pips.
For Sell: Automatically move stoploss above the lowest price a fixed distance in pips.
Set up this function: it is simply to click on “Regular” under “Absolute Trail S.Loss” section on the “Trade Management” dashboard as above video.
To adjust the parameters such as When to trigger trail, New Stop Loss distance in pips, let press F7 to open EA properties, then scroll down to find the parameters.
Mastering Risk Management with Regular Trailing Stop Loss in Forex Trading
Imagine you’re buying a currency pair at a price of 1.2000. You decide to set a trailing stop loss of 30 pips. This means that as the price climbs, your stop loss will trail behind it, always 30 pips away. So, if the price reaches 1.2030, your stop loss will be set at 1.2000, protecting your profits if the price drops suddenly.
Now, let’s talk about the MT4 Trade Manager – your automated trading ally. Imagine having a guardian that does all the hard work for you. This tool is like that guardian. It can automatically adjust your trailing stop loss according to your settings. You can focus on analyzing the market and making informed decisions while the MT4 Trade Manager takes care of your trades.
The MT4 Trade Manager isn’t just another tool – it’s a game-changer. It eliminates the stress of constant monitoring and manual adjustments. This means less hassle and more time to think about your trading strategy. And the best part? You can try it for free!
The importance of the MT4 Trade Manager can’t be stressed enough. It’s like having a safety net beneath a tightrope walker. It helps you maintain balance in the unpredictable world of trading. To all traders out there, consider this a golden opportunity. Download the MT4 Trade Manager for a free trial and experience firsthand how it enhances your trading journey.
In conclusion, regular trailing stop loss is a powerful tool to manage risks in forex trading. And when combined with the efficiency of the MT4 Trade Manager, it becomes a force to be reckoned with. So, if you’re serious about trading smarter, give the MT4 Trade Manager a try. It’s your partner in making your trading journey smoother, safer, and ultimately more successful.
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MT4 Trade Manager EA 