How to Set XAUUSD Trailing Stop Loss Order on MT5

How to Set a Trailing Stop Loss on MT5

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

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

For a sell gold trade the trailing stop loss trails the downwards xauusd trend & automatically closes the sell xauusd trade once the xauusd price starts to rise & move in opposite direction of your xauusd trade. The sell xauusd trade will be automatically closed once the xauusd price reaches your trailing stop loss level.

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

How to Set 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 guide described below to set a xauusd trailing stop loss order for this newly open xauusd trade on the MT5 xauusd Trading Platform

1. Right Click on the xauusd trade position
2. Select Trailing Stop option from the pop up menu that appears
3. Select your trailing stoploss value for the xauusd trade order
4. Click Ok to set the xauusd trailing stop loss order

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

1. Select the xauusd trade order you want to modify and set xauusd trailing stop loss
2. Right click on this gold trade
3. Select Modify Order
4. Select Trailing Stop from the popup menu
5. Chose your trailing stop-loss value for this xauusd order
6. Click Ok to set the xauusd trailing stop loss order

How to Set a XAUUSD Trailing Stop Loss Order on MT5