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Trigger-based Stop-Loss

In some situations, a trigger-based stop-loss is much better than a close-price stop-loss.


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Trigger-based stop-loss is the execution of the stop-loss directly when the market price touches your stop-loss price. Sometimes, this is the preferred method, especially during high-impact events like news breaks, where you can't afford to wait for the ticket to close before executing your strategy. In such cases, the best approach is to monitor your mobile or screen closely and set a trigger-based stop-loss. But how do you do that?

Send the stop-loss with the last decimal set to 0 or 9​

To send a trigger-based stop-loss for a market ticket, set the last decimal to 0 or 9. Since there is no time frame mapped to TF=0 and TF=9, the moment you set the stop-loss with the last decimal as 0 or 9, it will become a trigger-based stop-loss. The stop-loss will be executed directly without waiting for the ticket to close. This is particularly useful when you're away from your computer and need stricter protection of your profits or losses during periods of high market volatility.