How to Set Trailing Stop Loss Order in MetaTrader 4 Software

How to Set Trailing Stop Loss on MT4 Software

Stock trailing stop loss are stop loss orders in MT4 software that will be adjusted by a number of stock pips once the stock trade has moved in favor of the direction of the traders trade position.

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

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

Trailing stop loss order will be adjusted by a number of stock pips once the stock price moves in direction of the stock trade by a specified number of stock pips.

How to Set Stock Trailing Stop Loss Orders in MetaTrader 4 Software

First open a new stock trade & once you've opened a new stock trade follow step by step guide described below to set a stock trailing stop loss order for this new open stock trade in MT4 stock Trading Platform

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

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

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

How to Set Stock Trailing Stop Loss Order in MetaTrader 4 Platform