Trailing stop in pip’s not points ?

[drzeep]

Is there a way to get a trailing stop set-up in pip instead of points – I am using MT4 – are there other platforms or broker’s that are known to offer something in the range of a 5 PIP trailing stop or so…. I have the option of a 5 point stop but when you are trading to make 15 PIP’s that’s not a workable window……
Thank you for looking…

 

[f-man]

1 pip = 10 points

Maybe you are confused what a point and what a pip is.

Most 5 digit brokers count 1 pip = 10 points.

So if you have the option of having a 5 point stop, it means just half a pip. It is almost certain that you will never reach 15 pips (=150 points) of profit with only 5 points trailing stop.

I hope it's clear now for you.

 

[drzeep]

Thanks

I had it backwards actually - I must have miss-understod the explaination I was given...

Thank you for the reply...

 

[ronan chai]

If we've already set an initial S/L of let's say 50pips, and then we use trailing stop of 15pips. Isn't the trailing stop exposing our trade to greater risk of being stop out due to too small allowance of S/L??
Does that means if our initial S/L is 50pips then our trailing stop should also be 50pips?

 

[Pharaoh]

In MT4, the trailing stop doesn't kick in until you are in profit by that amount. Some people might set a trailing stop closer than their initial SL just to make sure the trade gets set to break even as soon as it gets a modest amount in profits. It really comes down to what sort of rules you build for your trading system.

 

[ChrisJMan]

Is there a way to get a trailing stop set-up in pip instead of points – I am using MT4 – are there other platforms or broker’s that are known to offer something in the range of a 5 PIP trailing stop or so…. I have the option of a 5 point stop but when you are trading to make 15 PIP’s that’s not a workable window……
Thank you for looking…

points are actually 0.1 pips in the MT4 trailing stop. Meaning that if you want to set a trailing stop of 20 pips, you should choose 200 points. If you want 50 pips, choose 500 points. Hope it will work out for you..

 

[Pharaoh]

10 points is a pip is true for 5 digit brokers. There are still some 4 digit brokers out there where 1 point = 1 pip.

 

[Ruth Berlin]

Is there a way to get a trailing stop set-up in pip instead of points – I am using MT4 – are there other platforms or broker’s that are known to offer something in the range of a 5 PIP trailing stop or so…. I have the option of a 5 point stop but when you are trading to make 15 PIP’s that’s not a workable window……
Thank you for looking…

It is very simple… 1 point in the trailing stop order in MT4, is 0.1 pips. Meaning, if you want to set the trailing stop order on 10 pips, you have to choose 100 points. Nothing complicated...