What is a Trailing Stop?
A Trailing Stop is a type of order that can be used to set a specific percentage from the current market price and which moves with the current market price. The purpose of a Trailing Stop is to allow a trader to continue to profit while a price is moving in the desired direction, but which automatically closes if the price moves in the opposite direction by a set amount. Find out more here.
Axi also offers Dynamic Trailing Stops which will move your stop for every 0.1 pip that the market moves in your favour.
How do I place a Trailing Stop?
To place a Trailing Stop on open trade, on the MT4 Terminal table, go to the "Trade" tab > Right-click on the trade > Click "Trailing Stop" > Choose the number of points.
For reference, 1 point = 1/10 pip; 10 points = 1 pip