How to Set XAUUSD Trailing Stop Loss Order on MT5

How to Set a Trailing Stop Loss in MT5

Trailing stop loss are stop loss orders on the MT5 platform that will be adjusted by a number of pips once the trade has moved in favor of the direction of the traders trade.

For a buy trade the trailing stop loss trails the upwards trend & automatically closes the buy xauusd trade once the price starts to drop and move in opposite direction of your xauusd trade. The buy xauusd trade will be automatically liquidated once the price gets-to your trailing stop loss level.

For a sell trade the trailing stop loss trails the down-wards xauusd trend & automatically closes out the sell xauusd trade once the price starts to rise & move in opposite direction of your xauusd trade. The sell xauusd trade will be automatically liquidated once the price gets-to your trailing stop loss level.

The trailing stop-loss will be adjusted by a number of pips once the price moves in the direction of trade by a specified number of pips.

How to Put XAUUSD Trailing Stop Loss Orders on MT5

First open a new xauusd trade & once you have opened a new xauusd trade follow the step by step lesson described below to set a xauusd trailing stop-loss for this newly open xauusd trade on the MT5 Platform

1. RightClick the trade position
2. Select Trailing Stop option from the pop-up menu that pops
3. Select your trailing stoploss value for the trading order
4. Press Ok to set the trailing stop loss order

You also can set this xauusd trailing stop-loss from the MetaTrader4 transactions panel

1. Select the trade order you want to modify & set xauusd trailing stop loss
2. RightClick on the trade
3. Choose Modify Order
4. Select Trailing Stop from the pop-up menu
5. Chose your trailing stop loss value for this xauusd order
6. Click Okay button to set the trailing stop loss order order

How to Put a XAUUSD Trailing Stop Loss Order on MT5

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