Brokers tricks and things to know
This guide is an attempt to share a few tricks learnt along our trading using retail brokers.
Bracket orders are designed to help limit your loss and lock in a profit by "bracketing" an order with two opposite-side orders.
A BUY order is bracketed by a high-side sell limit order and a low-side sell stop order.
A SELL order is bracketed by a high-side buy stop order and a low side buy limit order.
In other words, it allows to create in 1 order:
- your entry
- your stop loss
- your trailing
- your profit level(s)
FXCM provides pre-defined bracket orders that are activated in 1 click only.
This is very convenient when trading a strategy with a known best average stop/trailing and profit levels (#indices).
We included the Trailing stop using pips value in all of our Algorithm builders frameworks.
We also included a trailing stop based on percentage value.