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Track 'n Trade LIVE Forex
How to Place Orders with Trailing Stops
Video Transcript
In Track 'n Trade we have the ability of allowing Track 'n Trade the software itself to actually take control of and to perform different types of functionality on each individual order. For example- you can have an Auto-Trailing Stop or have the software automatically trail behind a specific price level, within the market.
The way we do that is very simple- there's another type of trading method within Track 'n Trade. You'll notice in Track 'n Trade, we the BS button, right here. We also have the same button is up on the button bar. So you have access to it in multiple locations. But either place you use it, it's the same dialogue box.
What we do is click the BS button which again, brings us up the ability to place an order, the default is a stop order. We can drag above the market to get a Buy Stop, below the market to get a Sell Stop. But when we release the mouse button, rather than getting a traditional confirmation order of dialogue box we get this placement dialogue box. Which has a number of additional features, and capabilities.
Now this is a quick way of accessing the Auto-Trailing Stop or the Autopilot Semi-Automatic features within Track 'n Trade. We can come in here, for example- we can buy one stop, we're going to trail this, let's say, 5 price bars behind the market. We're going to trail until Breakeven. We're going to use a filter of higher highs and higher lows, to filter against the market pulling back against us. You can see that there's a number of different features in here that we can use, to add to or take away from the order that we just placed on the screen. We're not going to go into great detail on this entire dialogue box just to show you that this is where you'll find this information and how you access it. We covered the details of this box in another video. But this is how you go ahead and place an order using Track 'n Trade's Semi-Automatic Autopilot System.