I ask because Price is at 26050 so about 80 below buy Price (26131) on the Chart you show?
Am I correct here or missing the point … about 80 points below on a short and showing + £259 so the contract must be a £3 per 1 Lot contract?
So for a 144 point trailing stop loss then the gain would need to be + £432 before the stop loss would move??
No, that isn’t correct. That image was simply illustrating the moment in time when I entered (which was about a day ago…. the trade is still going on as we speak and at the time I originally posted it was 276 point in profit). It is also illustrating the fact that the price (listed on the left) at the time of me taking the screengrab was massively in profit but the trailing stop, again, remained unmoved from the default position at entry. Disregard what the price was on the furthermost right of that screenshot – it simply doesn’t matter what the price was at 12:24 yesterday.
Two things should have happened to that trade:
1. As the that short trade quite clearly did well initially, the trailing stop should have moved from its initial point of 151. Although the screenshot cannot retrospectively tell us where the stop was in that period of time yesterday, you have my word that it didn’t move.
2. With the trade at 276.4 points in profit (at a pound per point) the following day (as the screenshot shows), there was still no change to the initial stop. So you’ve got a good start to a trade and you’ve got an even better current position, and yet neither run of form availed a change in the stop.
And so eventually, even if that trade goes up a thousand points this week it’s fair to assume it will only sell whenever the market hits a 151 loss on the entry point. This is the issue. In other trades I have observed with my system, that stop would have responded to the favourable market and moved significantly towards the entry price (and would probably have surpassed it by now, thus locking in a guaranteed profit).
