How to set trailing stop on mt4
At first you must set STOP LOSS on your trade.
Right click on the order you want to add the Trailing Stop and select Trailing Stop.
Select “Custom…” to enter a number of points for Trailing Stop.
This number will indicate the number of points the market must move in your favor.
For example: if you set 50 points for Trailing Stop, It will be active after +50 points on your account, after that your Stop loss will follow the online rate (with 50 points distance).
Trailing Stops are held on your MT4 platform, there for your platform will need to be on in order for them to activate and modify your stop.
MT4 Trailing Stops will not activate until the market moves in your favor (Please attention to above example). If the market only moves against you, there will not be a Stop Level Set, unless you previously had one.
Written by FxErvin