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Hi forgive me if this has already been covered but after days of searching i can't seem to find what i need which is this.
I am new to this so if its posted in the wrong place or my termonolgy is wrong i apologise.
a) I will maually setup a pending trade
b) If the trade goes say 15 pips in profit move stop loss to break even or just below (-) depending
c) then stop loss trails the profit in say 5 pip increments
d) if all fails and this trade goes wrong place an opposite hedge trade at X amont of pips from the open price and clear any take profits or stop loss on the original order
I will then trade out of it maually but at least the loss is restricted to X pips and when i am back at the computer I can possibly trade out at a profit or at least have a chance to reduce the max pip loss.
Hope this makes sense
I trade my system manually at the moment but need a little bit more control when i have to leave the computer with orders open or pending. Basically a degree of control when i am not infront of the machine
Thanks