Hello everyone!! Guys what do you think of freetrade adding a trailing stop-loss feature in the app? This help protect some of the profits we make on future trades. For those who knows and see the importance of this feature please voteā¦
Trailing Stop Loss
From best i can provide for topic
A trailing stop loss sets the stop-loss order at a fixed amount of pips above or below the market price, depending on whether the position is SELL or BUY. As long as the market is moving in your favor, the stop loss will move with it, maintaining the same locked-in pip distance from the current market rate.
For example, if you set TSL for a BUY position, the stop loss will rise with the market in one-pip increments. This is why itās called a ātrailingā SL; as the price rises, the stop loss rises with it. However, if the market is moving in the opposite direction i.e., if the price is falling, the stop loss will not change and a close order will be submitted when the stop loss rate is reached % set on.
Hello everyone!! Guys what do you think of freetrade adding a trailing stop-loss feature in the app? This help protect some of the profits we make on future trades. For those who knows and see the importance of this feature please voteā¦
Trailing Stop Loss
From best i can provide for topic
A trailing stop loss sets the stop-loss order at a fixed amount of pips above or below the market price, depending on whether the position is SELL or BUY. As long as the market is moving in your favor, the stop loss will move with it, maintaining the same locked-in pip distance from the current market rate.
For example, if you set TSL for a BUY position, the stop loss will rise with the market in one-pip increments. This is why itās called a ātrailingā SL; as the price rises, the stop loss rises with it. However, if the market is moving in the opposite direction i.e., if the price is falling, the stop loss will not change and a close order will be submitted when the stop loss rate is reached % set on.
When adding a stop loss to an open position, would be good if it could be set as a percentage. This would make it so users can decide if they happy to go up to a certain percentage of loss on their initial investment, so say the user is happy with a loss of up say 20% or 35% and at that point it pulls the position.
I was reading about TSL in etoro - feature looks good and is there any option or future development pipeline to implement the same in FT.
Trailing Stop Loss (TSL) is an exciting feature we have added in response to feedback from our valued trading community.
A trailing stop loss sets the stop-loss order at a fixed amount of pips above or below the market price, depending on whether the position is SELL or BUY. As long as the market is moving in your favor, the stop loss will move with it, maintaining the same locked-in pip distance from the current market rate.
For example, if you set TSL for a BUY position, the stop loss will rise with the market in one-pip increments. This is why itās called a ātrailingā SL; as the price rises, the stop loss rises with it. However, if the market is moving in the opposite direction i.e., if the price is falling, the stop loss will not change and a close order will be submitted when the stop loss rate is reached.
With respect, thereās no need - or benefit - to tag people when posting an idea. If an idea gets enough votes and is deemed good by the company, thatās what counts. On this occasion, a search would have helped, as itās been suggested previously. Feel free to vote on the idea below.
It available on other trading platforms and would be great to have this added to the chargable plans Standard and Plus for monthly subscription members.
Stop and Limit are great at the moment but trailing would allow greater control and flexability when managing our investment risks.
I do hope it is developed and added in the near future.
