#ForexChief #TrailingStop #TakeProfit #StopLoss #trading #forexschool #forexeducation ⠀
💱 Why is Trailing-Stop dangerous?⠀
📌 We continue the discussion on the automatic management of StopLoss orders. Let's talk about the possible problems.
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Trailing can be turned off at any time - this is convenient, but:▪️ Must be disabled on every order (even on a pending order!);
▪️ If several terminal sessions are open, for example, on a computer, and on a mobile phone, you will have to disable Trailing-Stop on each device.
▪️ Trailing-Stop sends regular exchange orders, so the speed of its processing depends on the broker and on market conditions. This means that during periods of news or weak market liquidity, trailing will be delayed or the broker may not react to such orders at all.
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The "step" of the Trailing-Stop must be at least 3-5 times greater than the value, which the system offers you.
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We remind you: regular StopLoss works on the broker's server, regardless of the trader, but Trailing-Stop works only in an active trading session - you can check it on the Welcome Bonus $500. When the terminal is turned off, or the connection with the server is broken, Trailing-Stop stops “reaching out” profit and your StopLoss will remain at the last position.
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Focus on the level of the initial StopLoss, otherwise, your Stop will be too close and the very first pullback will throw you out of the market.
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Profits to y’all!