Setting a Trailing Stop Order in MetaTrader 5 (MT5):
To manage your trades effectively with a trailing stop loss order on MetaTrader 5 (MT5) across Android, iOS, Mac, and Windows:
On Android/iOS:
1. Open the MetaTrader app on your Android device.
2. Go to the 'Trade' tab to view your open positions.
3. Tap on the position you want to set a trailing stop loss for.
4. Select 'Modify Order' from the menu.
5. Enter the desired trailing stop value in the 'Stop Loss' field.
6. Confirm your settings by tapping 'Modify' or 'Save'.
On Windows/Mac:
1. Open MetaTrader 5 on your Windows computer.
2. Go to the 'Terminal' window and find the 'Trade' tab to view your open positions.
3. Right-click on the position you want to set a trailing stop order for.
4. From the context menu, select 'Trailing Stop' and then choose the desired trailing stop value from the preset options or select 'Custom' to enter your own value.
5. The trailing stop loss will now be set and will adjust automatically as the market moves in your favor.
Setting a trailing stop loss order in MT5 helps automatically adjust the stop loss level as the market price moves, aiming to secure profits while allowing potential gains. For detailed instructions specific to each platform, consult the MetaTrader 5 user guides or our customer support team.
For better visualization, please refer to the following GIF:
