Trailing Stop is a complicated stop-loss order in which the stop loss price will always differ from the market price by a certain number of points.
If the market price moves in a direction favorable to you, then the stop loss value changes proportionally, but if the currency price moves in an unfavorable direction and you suffer losses, then the stop loss value will not change, and the position will be closed when the set stop loss level is reached.
This method allows you to limit the maximum loss without limiting the maximum profit and eliminates the need to constantly monitor price movements and manually modify the stop loss.
In order for the trailing stop loss to continue changing the stop loss values, a connection to the trade server must be established in the MetaTrader terminal.
If you close the MetaTrader terminal and disconnect the Internet connection, the trailing stop function will not work.
Right-click on a record with an open position, select a trailing stop in the context menu, and set its value in points.
(Forex Broker)
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March 26, 2024
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