How to Set Trailing Stop Loss Order on MT4

How to Set Trailing Stop Loss on MT4

Stock Index trailing stop loss are stop loss orders in MetaTrader 4 platform that will be adjusted by a number of stock index pips once the stock index trade has moved in favor of the direction of the traders trade position.

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

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

The trailing stop-loss order will be adjusted by a number of stock index pips once the stock index trading price moves in the direction of the stock index trade by a specified number of stock index pips.

How to Set Stock Index Trailing Stop Loss Orders on MT4

First open a new stock index trade & once you've opened a new stock index trade follow the step by step guide described below to set a stock index trailing stop-loss order for this newly open stock index trade in MetaTrader 4 stock index Trading Platform

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

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

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

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