Metatrader4

[perfectsun]

One question:

How can you make that stop/loss order goes up with a profit and stops when profit falls for let say 10 pips?

All I can do or know how to do is to enter a stop/loss order at one point.

10x

[FXGroundworks]

You would want to use a feature called a “trailing” stop. In Metatrader you can right click on any existing order and click “Trailing Stop” and set the value. Be careful when you set it because if your broker uses a 5 decimal system you will want to verify the value for the trailing stop. You can also select from their default values or set your own custom value.

[MeiHua]

You would want to use a feature called a “trailing” stop. In Metatrader you can right click on any existing order and click “Trailing Stop” and set the value. Be careful when you set it because if your broker uses a 5 decimal system you will want to verify the value for the trailing stop. You can also select from their default values or set your own custom value.

FX is completely correct. But be sure to leave your MT4 platform on. trailing stops are not stored in the server. so if you turn your computer off the stop is not going to be engaged when price reaches that level since it is stored client side. Trust me it sucks if you had to learn that the hard way.