Trailing Stop Loss in MetaTrader 4 [DEMONSTRATION]
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Trailing Stop Loss in MetaTrader 4 is a free lecture from the MetaTrader 4 Forex platform: Start trading with a pro trader. Enroll here in the course:
In this lecture, you will learn how to use the Trailing Stop Loss in the MetaTrader4 platform. It is a feature coming with the platform, and you do not need to add some additional scripts or Expert Advisors.
The Trailing Stop Loss in MetaTrader 4 is very useful for scalping trading. Especially when we are in a profit, and we want to secure some profit. By placing Trailing Stop Loss, we place a Stop Loss behind the price.
Let’s say the price is at 1.2020, and we have entered long at 1.2000. This means that we will be on profit with 20 pips. If we place a trailing Stop Loss with 5 pips(which is 50 points in MetaTrader), this will mean that the Trailing Stop Loss will go on 1.2015.
Now, if the price goes lower at 1.1218, the Trailing Stop Loss will remain at 1.2015. But if the price goes higher at 1.2021, the Trailing Stop Loss will move/trail at 1.2016.
This way, if the price goes in one direction without any significant pullbacks, we can follow it with Trailing Stop Loss and take profit from the move.
Keep in mind that at the end, we will always lose the Trailing Stop Loss size from the profit. But that is normal because we can not take the maximal move from the market.
The Trailing Stop Loss in MetaTrader 4 is a free lecture from the basic Meta Trader course focused on beginner traders who wish to learn to trade from a professional trader as Petko Aleksandrov.
He is a dedicated algorithmic trader who shares his trading strategies and Expert Advisors. In this course, he included 3 Expert Advisors for free, and you can give them a try.
Petko Aleksandrov will demonstrate how to place these Expert Advisors on MetaTrader and test them on a virtual/demo account. This way, you will not risk any real money.
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