How to Set Trailing Stop Loss Order on MT4

How to Set Trailing Stop Loss on MT4

Trailing stop loss are stop loss orders on MetaTrader 4 platform that will be adjusted by a number of pips once the trade has moved in favor of the direction of the traders trade transaction.

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

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

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

How to Place Trailing Stop Loss Orders on MT4

First open a new trade & once you have opened a new trade follow the step by step lesson described below to set a trailing stop loss order for this newly open trade on the MetaTrader 4 Software

Right Click the trade position
Select Trailing Stop option from the pop up menu which appears
Choose your trailing stop loss value for the trading order
Click Okay button to set the trailing stop loss order order

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

Choose the trade order you want to modify and set trailing stop loss
Right Click on this trade
Choose Modify Order
Select Trailing Stop from the pop-up menu
Chose your trailing stop loss value for this order
Press Ok to set the trailing stop loss order

How to Place Trailing Stop Loss on MT4

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How to Set Trailing Stop Loss Order on MT4

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How to Place Trailing Stop Loss Orders on MT4