How to Set a Trailing Stop in MT5 (Mac)
In MT5, you can place trailing stop orders on your existing positions.
The MT5 trailing stop feature activates when the price moves a specified number of points (minimum pip movement) in a favorable direction. It sets a stop order a specified number of points away from the latest price and automatically updates the stop order only when the price moves favorably.
How to Set a Trailing Stop
Right-click on the order you want to set a trailing stop for within the 'Trade' tab of the Toolbox, 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 displayed dialog, specify the number of points you want to set. Enter the desired number of points.
※ Points are specified in the minimum pip movement. For example, in USD/JPY, 1 point is equivalent to 0.001.
How to Remove 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 from the selected position, or 'Delete All' to remove trailing stops set on all positions.
Important Considerations When Setting a Trailing Stop
When using the MT5 trailing stop, please note the following points. Use this feature after understanding how it works:
*A trailing stop only activates if the price moves favorably by the specified number of points. If the price never reaches that level, no stop-loss order will be set. It is recommended to set a separate stop-loss order as a precaution.
*The trailing stop function only works when MT5 is running. If you close MT5, it will not continue to trail even if the price moves favorably. Also, the mobile version does not have a trailing stop feature.