What is meant by a '20 pip trailing stop'?

Question

how do you place this?

Answer 1

Which trading platform are you using?

Typically, when you open a long or short position, there should be a button there that activates the trailing stop. When you click on that, it will then ask you how many pips you want your trail to become activated.

Try to look at the Help menu and look up trailing stops. This features differ from each trading platform. If you can't find it, go to your broker's website, then click on Live help or online help.

Good luck!

- Jim http://jsforex.blogspot.com

Answer 2

Hello

This option is for stopping loss or booking profit. Finexo's advanced trading platform provides the trader with the trailing stop: a unique tool, that goes far beyond the regular stop-loss. Placing a trailing stop order means that as the market rises, the stop will follow the trend, setting itself higher than the trader's initial investment. This exclusive tool guarantees that the trader will always keep a position higher than the original, thus fixing his profits and restricting his losses automatically.

Therefore, the trader saves himself the need to be updated about the fluctuations of the market – he is assured that he made a profit, or in the worst case, that he did not lose.