How to Set a Trailing Stop in MT4 (Windows)
In MT4, you can place a trailing stop order on open positions.
The trailing stop feature in MT4 activates when the price moves favorably by a specified number of points (minimum range), setting the stop order at a level a specified number of points away from the latest price, and only updates the stop order in a favorable direction automatically as the price continues to move favorably.
How to Set a Trailing Stop
In the "Trade" tab within the terminal, right-click on the order you want to set a trailing stop for, and select "Customize" from the "Trailing Stop" options in the menu that appears. (You can also specify the number of points directly here.)
In the dialog that appears, specify the number of points. Enter the desired number of points.
※ Specify the number of points in the minimum range. For example, in the case of USD/JPY, 1 point equals 0.001.
How to Disable a Trailing Stop
When a trailing stop is set, a "T" icon appears to the left of the position in the "Trade" tab of the terminal.
To end a trailing stop, right-click on the position row and select "None" to remove the trailing stop for the selected row, and "Delete All" to remove the trailing stops set on all positions.
Notes on Setting a Trailing Stop
When using the trailing stop in MT4, the following points should be noted. Please use it only after understanding its mechanism.
• The trailing stop only activates if the price moves favorably by the specified number of points. If the price never reaches that level, there will be no stop-loss order set. It’s recommended to set a stop-loss order separately.
• The trailing stop only operates while MT4 is running, so if MT4 is closed, it will not trail even if the price moves favorably. Also, the mobile version does not have a trailing stop function.