A Trailing Stop order is a dynamic stop-loss order that adjusts itself as the market price moves in your favor. This feature is available only on the desktop versions of MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
To set a trailing stop order:
1. Right-click on your open position: In the ‘Trade’ tab, locate the position you want to set a trailing stop for and right-click on it.
2. Choose ‘Trailing Stop’: From the context menu, select ‘Trailing Stop’.
3. Select the number of points: Choose the distance in points (ticks) from the current market price. You can select a predefined value or click ‘Custom’ to specify your own.
4. Activation: The Trailing Stop order will be activated once the market price moves in a profitable direction by the number of points you set. For example, if you set a trailing stop of 20 points, the stop-loss will move 20 points behind the market price as it moves in your favor.
Important Note: The trailing stop function operates only while the client terminal is running. If you close the terminal, the trailing stop will stop adjusting, and only the last set stop-loss level will remain active