How to Set a Trailing Stop in MT5 (Windows)
In MT5, you can place trailing stop orders for existing positions.
The MT5 trailing stop function is activated when the price moves a specified number of points (minimum price movement) in a favorable direction, placing a stop order at a level that is the specified number of points away from the latest price. It automatically updates the stop order only when the price continues to move in a favorable direction.
How to Set a Trailing Stop
Right-click on the order for which you want to set a trailing stop in the 'Trade' tab of the Toolbox, and select 'Custom' from the 'Trailing Stop' options in the menu that appears. (You can also directly specify the number of points here.)
In the dialog that appears, specify the number of points. Enter the desired number of points.
※The number of points is specified in the minimum price movement. For example, in USD/JPY, 1 point equals 0.001.
How to Remove a Trailing Stop
When a trailing stop is set, a 'T' icon appears on the left side 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, and 'Delete All' to remove trailing stops from all positions.
Precautions When Setting a Trailing Stop
When using the MT5 trailing stop, it is important to note the following. Please use the trailing stop with understanding of these considerations:
・The trailing stop only operates when the price has moved favorably by the specified number of points. If the price never reaches that level, no stop-loss order is set. It is recommended to set additional stop-loss orders separately for risk management.
・The trailing stop function only works when MT5 is running; it will not continue to trail if MT5 is closed. Also, be aware that the mobile version does not support the trailing stop function.