OK I think I understand why the floating stop now – when using SET STOP command if for example you set it to £5 when the order is opened it will ‘secure’ the closest possible stop it can to this amount say for example £10
On the next candle it will try again to ‘secure’ the £5 but might instead only be able to get say £7 (as price has moved in your favour and this is now the minimum stop distance)
This seems to carry on each candle and if the desired £5 is possible the stop will ‘stick/hold’ at this stop amount throughout the remainder of the trade
If however it never reaches the desired £5 and instead price then moves against you and the minimum stop distance is now £11 it will on the new candle try again to secure the desired £5 (even thought it ‘had’ £7) and will only be able to get £11 so will set the stop to £11 and so the floating stop… shame it can’t stick to the lowest stop it had achieved but guess this is just how things work
I think I’ve got it right/please let me know if not otherwise now it’s back to the drawing board how to work around this/any possible way to use it to my advantage… (and look it into the trailing stop functions as a bit overwhelming as they are perhaps these can be of better use if they work similarly at a ‘system level’ to the SET STOP)
I am guessing most if not all of the other issues will be explainable one way or the other but still would be great to know what the explanations are
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