How to Set Bitcoin Trailing StopLoss Order on MetaTrader 4
How to Set a Trailing StopLoss on MetaTrader 4
Bitcoin trailing stop loss are stop loss orders in MetaTrader 4 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 btcusd crypto trade the trailing stop loss trails the upward bitcoin trend & 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-ward bitcoin trend & automatically closes the sell bitcoin trade once the bitcoin price starts to rise & move in the opposite direction of your bitcoin trade. The sell btcusd crypto trade will be automatically liquidated once the bitcoin crypto currency price reaches your trailing stop loss level.
Trailing stop-loss will be adjusted by a number of bitcoin crypto currency pips once the bitcoin crypto currency price moves in the direction of the bitcoin crypto currency trade by a given number of bitcoin crypto pips.
How to Set Bitcoin Trailing StopLoss Orders on MT4
First open a new bitcoin trade & 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 on the MetaTrader 4 bitcoin Trading Platform
- Right-Click the bitcoin crypto currency trade position
- Choose Trailing Stop option from the pop up menu that appears
- Choose your trailing stop loss value for the bitcoin trade order
- Click the Ok button to set bitcoin trailing stop loss bitcoin order
You also can set this bitcoin trailing stop-loss from the MetaTrader4 bitcoin transactions panel
- Select the bitcoin trade order you want to modify and set bitcoin trailing stoploss
- Right-click on the bitcoin crypto currency trade
- Choose Modify Order
- Select Trailing Stop from the popup menu
- Chose your trailing stop loss value for this bitcoin crypto currency order
- Click the Ok to set bitcoin trailing stop loss bitcoin order
How to Set a Bitcoin Trailing StopLoss Order on MT4
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