Trade Bitcoin Trading

How to Place and Set a Trailing StopLoss Order in the MT5 Platform

How to Set a Trailing StopLoss on MT5 Platform Software

Bitcoin trailing stop loss are stop loss orders in MT5 platform software that will be adjusted by a number of bitcoin pips once the bitcoin trade has moved in favor of the direction of the online traders trade.

For a buy bitcoin crypto trade the trailing stop loss trails the upwards bitcoin trend and mechanically/automatically closes the buy bitcoin trade once the bitcoin price starts to drop & move in the opposite market direction of your bitcoin trade. The buy btcusd crypto trade will be automatically liquidated once the btcusd crypto price reaches your trailing stop loss order level.

For a sell btcusd crypto trade the trailing stop loss trails the down-wards bitcoin trend & mechanically/automatically closes the sell bitcoin trade once the bitcoin price starts to rise and move in the opposite direction of your bitcoin trade. The sell bitcoin crypto trade will be automatically liquidated once the btcusd crypto price reaches your trailing stop loss order level.

Trailing stop-loss will be adjusted by a number of btcusd crypto pips once the btcusd crypto price moves in the market direction of the btcusd crypto trade by a given number of btcusd crypto pips.

How to Set Bitcoin Trailing StopLoss Orders in MT5 Software Platform

First open a new bitcoin trade and once you have opened a new bitcoin trade follow the step by step tutorial explained below to set a bitcoin trailing stop-loss for this new open bitcoin trade in MT5 bitcoin Platform

  1. Right-Click the bitcoin position
  2. Select Trailing Stop option from the popup menu that shows up
  3. Choose your trailing stop loss value for the bitcoin trade order
  4. Click the Ok button to set the bitcoin trailing stop loss bitcoin order

You can also set this bitcoin trailing stop-loss from the MetaTrader4 bitcoin transactions panel

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

How to Set and Place a Trailing StopLoss Order on the MT5

Study More Guides:

Forex Seminar Gala

Forex Seminar

Bitcoin Broker