Need help entering a trailing stop sell order

[Jorabi]

I am confused about entering a sell order at a broker because the entry parameters don't seem to make sense for what I want to do.

The stock is currently $40. I want to sell it at some higher price, say $41, but NOT execute the sell order if the price is currently increasing, unless the price starts to fall, say 50 cents. I understand a trailing stop $ sell order can do this. But what should I enter into these fields?

Action: Sell
Order type: Trailing Stop $
Trail amount:

I don't see a way to NOT trigger the sale immediately, because there is no place to enter $41. I am also not sure if it should be Trailing Stop $ or Trailing Stop Limit $

Some brokers have conditional orders, but when I look at entering that, Trailing Stop is no longer in the list!

Can you help?

 

[Jorabi]

Any suggestions of another forum that would be better to answer my question?

 

[Smith2525]

I wish MT4 had a built in trailing stop feature. Although it can be remedied with an EA (third party software) easily enough.

Which platform do they run on?

 

[Farm Yard Forex]

Yeah if you're using MT4 you will need an EA or trade manager to trail your stop automatically.

 

[Jorabi]

I wish MT4 had a built in trailing stop feature. Although it can be remedied with an EA (third party software) easily enough.

Which platform do they run on?

Who?

 

[Jungletrader]

It may be available on MT5?
I'm more mt4 and it requires an EA to the best of my knowledge

 

[Jorabi]

Fine but nobody answered my question about entering the order. My question applies to ALL platforms.

 

[The Cube]

I dont think you can do this with with standard settings. You may need to program it to achieve it