Meta Trader 4. Not sure if alot of you uses this platform. But one thing for sure is, Black and I do. I've got no problem with this platform, or rather i am so used to it now that i actually love this platform. All was good until yesterday. Take a look at the below chart before i carry on my shock discovery.
Ok as usual, some information on the above image. Its EUR/JPY pair. Red circle is where i did a long trade. White circle is my TP and the Yellow circle is where the highest was hit during that surge of price.
Ok my TP is 60pips away(White Circle). SL 40pips away(Just somewhere below the FIBO support). Custom set trailing stop 30pips. Notice that i had to custom set my trailing reason being the default given is only in multiple of 5s. 25 35 45 etc.
I left the trade to run and left for work. And when i got back, to my dismay, my SL was hit. Well, my trailing stop did not work!! As you can see from the point where i enter trade, a 50 pips was reached, so that means my trailing stop should kick in at 30pips profit and secure at least 1 to 20pips profit for me. But it didnt, unfortunately the trade went back and hit my SL. Well i thought i did a good job in eliminating the risk involve in this trade. Thats too bad eh?? =(
After which i checked with Black, he too remembered having the same problem when he was in AUD/USD trade. The trailing stop didnt kick in when it should. We were wondering what happened. I've used the default given trailing stops (25 35 45) though, it was good. It worked. So im wondering if its because of some errors or bug in the custom setting for trailing stops... Mayb next time i'll try in Demo.
Thats all folks! Do take note of this and share with us and everyone else if you too encounter this problem yea??