How to set up and manage trailing stops?
Learn how to set up and manage a trailing stop to improve your trading strategy, ensuring better risk management and the potential for maximizing profits. Follow these steps to effectively apply and manage your trailing stop:
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Action
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Steps
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Set up a trailing stop
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1. Right click on the open order in the trade tab.
2. Select trailing stop.
3. Choose or enter the number of points to trail the stop.
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Modify a trailing stop
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1. Right click on the open order in the trade tab.
2. Select trailing stop.
3. Choose a new value (or click custom).
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Remove trailing stop
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1. Right click on the open order in the trade tab.
2. Select trailing stop.
- To remove a single trailing stop, click none.
- To remove all trailing stops, click delete all to remove trailing stops from all open and pending orders.
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This feature is currently only available on MT4 and MT5 desktop terminals.