How to Set a Trailing StopLoss Order on MT5
How to Set a Trailing StopLoss 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.
For a buy bitcoin crypto currency trade the trailing stop loss trails the upwards bitcoin trend and automatically closes the buy bitcoin trade once the bitcoin price starts to drop and move in the opposite direction of your bitcoin trade. The buy btcusd crypto trade will be automatically liquidated once the btcusd crypto price reaches your trailing stop loss level.
For a sell btcusd crypto trade the trailing stop loss trails the down-wards 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 crypto trade will be automatically liquidated once the btcusd crypto price reaches your trailing stop loss level.
Trailing stop-loss will be adjusted by a number of btcusd crypto pips once the btcusd crypto price moves in the direction of the btcusd crypto trade by a given number of btcusd crypto pips.
How to Set Bitcoin Trailing StopLoss Orders on MT5
First open a new bitcoin trade and once you have opened a new bitcoin trade follow the step by step tutorial explained below to set a bitcoin trailing stop-loss for this new open bitcoin trade in MetaTrader 5 bitcoin Platform
- Right-Click the bitcoin crypto currency trade position
- Select Trailing Stop option from the popup menu that pops up
- Choose your trailing stop loss value for the bitcoin trade order
- Click the Ok button to set the bitcoin trailing stop loss bitcoin order
You can also set this bitcoin trailing stop-loss from the MetaTrader4 bitcoin transactions panel
- Choose the bitcoin trade order you want to modify & set bitcoin trailing stoploss
- Right-click on the bitcoin crypto currency trade
- Select Modify Order
- Choose Trailing Stop from the pop up menu
- Chose your trailing stop loss value for this bitcoin crypto currency order
- Click the Ok to set the bitcoin trailing stop loss bitcoin order
How to Set a Bitcoin Trailing StopLoss Order on MT5
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