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FXCM has added a step function trailing stop. Does anyone have any
idea how to use this type of stop in AB. The discription of the
stop is as follows.
Thanks,
Byron
The trailing stop feature allows the trader to place a stop-loss
order that automatically updates to lock-in profit as the position
moves in the trader's favor. The trailing stop feature will cause
the stop-loss order to move a specified number of pips when the real-
time price moves the same number of pips in a profitable direction.
For example, when a trader buys EUR/USD at 1.2100 and places a 50
pip stop at 1.2050, the trader is then able to set a trailing stop
on the trade. If the trader chooses to set the trailing stop
at "30", the stop-loss order will then automatically move 30 pips
higher when the real-time price trades 30 pips higher. In this
example, when the EUR/USD trades up to 1.2130, the stop will
automatically become 1.2080. When the EUR/USD appreciates to 1.2160,
the stop will automatically "trail" to 1.2110. The stop will
continue to trail the real-time price as the price trades in
increments of 30 pips higher. (Please note: When selling a currency
pair, the stop will trail the real-time price as the exchange rate
trades lower rather than higher (as this indicates a profitable
move). The stop-loss will not change when the price moves in an
unprofitable direction.
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