A Trailing Stop order is a dynamic stop-loss feature that adjusts itself as the market moves in your favor. Available exclusively on the desktop versions of MT4 and MT5, here’s how you can set it up:
Open Your Position: Locate your open trade under the ‘Trade’ tab.
Right-Click: Select the trade you want to modify and right-click.
Select ‘Trailing Stop’: Choose this option from the context menu.
Set Points: Choose a predefined distance in points or select ‘Custom’ to enter a specific value.
Note: The trailing stop activates only when the market price moves in your favor by the specified points. For example, a 20-point trailing stop will shift the stop-loss 20 points behind the new market price as it rises.
Important: This feature works only while your trading platform is running. If you close the platform, the last set stop-loss level will remain active.