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Use a Trailing Stop To Close a Profitable Trade

 
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llewelynjames

Use a Trailing Stop To Close a Profitable Trade

Hi there traders,

I am new to Alveo and I am having trouble deleting the take profit line so I can move my trailing stop above my order line and close out at a profit.

How do i do it ? please help

Many thanks

Mon, 07/15/2019 - 6:05am
 
lauriewillhelpyou

Use your mouse to click on the line and you see the space that lets you manually to move them when you need to.

 
robunited

llewelynjames " am new to Alveo and I am having trouble deleting the take profit line so I can move my trailing stop above my order line and close out at a profit."

You can't delete your take profit line on the chart. It's placed on the charts with the TP you set beforehand, before opening the trade.

With the Trailing Stop enabled, the TP get's pushed up (or down) automatically on the charts, inline with your S/L ratio you have set, until it gets hit and takes out your trade.

Then your beeline task has been completed.

 
robunited

Laurie "Use your mouse to click on the line and you see the space that lets you manually to move them when you need to."

I think if you manually move your profit target lines on the chart, that will not count as a Trailing Stop to be fulfilled for the beeline task.

The TS has to be taken out completely automated, that's the lesson ;-) Don't touch your TP line manually.

(Laurie, of course you are right you can move the Tp lines manually. I do it all the time. But later, not when to fulfill the TS task)

 
red7media

i have the same issue please see this video......... He Deletes the TP green line, i have tired to delete it with no success.
https://apiaryfund.com/training/discussion/using-trailing-stops

You can't delete your take profit line on the chart. It's placed on the charts with the TP you set beforehand, before opening the trade.

((( With the Trailing Stop enabled, the TP get's pushed up (or down) automatically on the charts, inline with your S/L ratio you have set, until it gets hit and takes out your trade.))))

what am i missing here ???

 
robunited

@red7media

lol, you are right ... I've never seen this, deleting the TP on the screen. Learn something new everyday!

Good video, good explanation of how to use the Trailing Stop!

Thanks!

(I hope this doesn't trigger people now to also delete their S/L lines, controlling yourself to not move them when price goes against you is already a major emotional task to control ;-)

 
red7media

ok here is the deal, on my laptop i can delete the green line but not on the desktop.
used the delete key on both events, fit only works on my laptop.

 
robunited

Hi Red, ok, don't know ... but to be honest, that's not really an issue to focus on.

With every trade you open, you should have a the set TP and SL in place, based on your risk
calculations beforehand, to get the correct lot sizing onto the charts.

The Trailing Stop works, helping to maximize profits and let winners run a bit longer.
That's the exercise of the beeline tasks, and it's clear how it works in the video you have posted.

Don't waste more time or thoughts on it, my suggestion ;-)

You don't need to delete TP lines ... but you can manage TP / SL by moving them on the charts or alternatively, have TS enabled to do it for you.

Fiddling around with S/L's lines is never a good thing to do. Unless you move them up/down, but only to protect your profits ;-)
And the Trailing Stop does that for you.

I think he only gave that example of deleting TP lines, just in case the TP is too close and get's hit before the Trailing Stop is able to make a move, hence never being able to demo (or complete) the TS task of the beeline.

Other than that, there is no plausible use-case to delete a TP line.