can i move my TP and SL as the trade moves, so that i can earn more from the trade safely
lets say i have a long position in gbpusd, but during the trade i feel it has the potential to earn more, can i move the TP higher and the SL to breakeven to secure the trade
This is the answer that I received recently from contest support:
Greetings,
From the Contest Trading Rules:
Take profit and Stop Loss levels should not exceed 2% from the opening price for EUR/USD. Limits for the rest instruments recalculating each settlement according to "Pip Conversion Schedule".
https://www.dukascopy.com/tradercontest/?action=contestrules&language=en
Yes after your trade move you can make modifications to your trade by Right Mouse Click on TRADE you like to make changes to. You still limited by 2% from latest price, if you make larger change that is allowed, error will let you know maximum allowed distance from current price.
It is good strategy to move SL to protect earnings and make trade risk free, and to move TP to next logical level or next FIB level.
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