Trailing stops

Discussion in 'Forex Brokers' started by mortysill, Jun 13, 2006.

  1. I am evaluating a 'set and forget' alerts service. The returns are impressive (+2,000 pips per annum).

    When I drill down I find the profitablility is very sensitive to the performance of the trailing stop: my profitability is mediocre compared with the system because the system uses 1 increment trailing stops.

    What I mean by this is if I set the stop at 40 pips then, when the entry order is triggered, and the position moves in my favor, the stop tracks the price movement point for point. The brokers I am familiar with only track price in 10 point or greater increments.

    The best I can find, for entry orders, is 10 pips (FXCM and FXSol), 15 pips FXDD and no trailing stops with Oanda.

    Has anyone come across a broker who offers 1 increment stops?

  2. Hi,
    in fact you can program it in MetaTrader 3 and 4 to bypass the default values offered by FXDD.
    There is a sample of code in MT3.
    But: you need to let at least 5 pips around the price (bid or ask) to place the dynamic SL order.