When it comes to trading using the IQ Option broker (read review here), it pays to use all available tools and resources. One important feature that should get your attention is the Trailing Stop Loss. This feature helps automate the trading procedure, assess the risks, and boost your pool of technical tools.
In short, it’s adoption during real-money trades can enhance your investing experience. If you’re not yet using this feature, then now is the right time to explore its functions and benefits to your trading activities.
In the IQ Option platform, you get access to a feature that helps you close deals instantly when it reaches a set price or level. For example, you can use it to ‘take profit’ if there’s a possibility of a trend reversal. To do this, identify the ‘When profit is’ amount. The same functionality can be adopted for the stop loss. The same step applies- complete the information on ‘When loss in’.
Some traders use a combination of these tools to help manage the risks and maximize the profit potential.
The trailing stop loss works differently. The threshold is calculated as a percentage of the starting price and it can be set at – 95 % or lower. If the trend is friendly, the trade will not be ended until the current prize falls below its opening price. The Trailing Stop Loss will push your stop-loss limit up for a BUY deal and down for a SELL option. In short, your trade closes as soon as you have generated a profit, but the market trend is expected to reverse. In short, you can use this feature if the trend moves in your preferred direction but has the tendency to change at any time.
Do you use this tool or you didn’t even know about it? Let us know in the comments.
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