How to Set a Trailing Stop Loss Order on MT5
How to Set a Trailing Stop Loss on MT5
Bitcoin trailing stop loss are stop loss orders in MetaTrader 5 platform that will be adjusted by a number of bitcoin pips once the bitcoin trade has moved in favor of the direction of the traders trade position.
For a buy bitcoin trade the trailing stop loss trails the upward bitcoin trend & automatically closes the buy bitcoin trade once the bitcoin price starts to drop & move in the opposite direction of your bitcoin trade. The buy bitcoin trade will be automatically closed once the bitcoin price reaches your trailing stop loss level.
For a sell bitcoin trade the trailing stop loss trails the downwards bitcoin trend & 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 trade will be automatically closed once the bitcoin price reaches your trailing stop loss level.
Trailing stop loss order will be adjusted by a number of bitcoin pips once the bitcoin price moves in direction of the bitcoin trade by a specified number of bitcoin pips.
How to Set Bitcoin Trailing Stop Loss Orders on MT5
First open a new bitcoin trade and once you have opened a new bitcoin trade follow the step by step guide explained below to set a bitcoin trailing stop loss order for this new open bitcoin trade in MetaTrader 5 bitcoin Trading Platform
- Right Click on the bitcoin trade position
- Select Trailing Stop option from the pop up menu that pops up
- Select your trailing stop-loss value for the bitcoin trade order
- Click Ok to set the bitcoin trailing stop loss bitcoin order
You can also set this bitcoin trailing stop loss order from the MetaTrader4 bitcoin transactions window
- Select the bitcoin trade order you want to modify and set bitcoin trailing stop loss
- Right click on this bitcoin trade
- Select Modify Order
- Select Trailing Stop from the pop up menu
- Chose your trailing stop loss value for this bitcoin order
- Click Ok to set the bitcoin trailing stop loss bitcoin order
How to Set a Bitcoin Trailing Stop Loss Order on MT5
