Quick MT4 q

Beginner Questions
1

Hey all,

I got a lil question here about MT4. Is there a way to automatically adjust stops? like… if the trade went 50pips your way move the S/L to break even?

Thanks alot

2

and also, is there a way to automatically close out trades at a certain time at any price?

Thanks

3

bump… anyone?

4

You can use trailing stops to follow the price. Set the trailing stop to 50 if that is your choice. When the price reaches +50 pips the trailing stop will kick in and set itself at b/e (less your spread). As price moves in your favor, the stop loss will follow accordingly…so if you were at +60, s/l will be at +10 etc. If price goes against, the s/l will stay where it is.

MT4 doesn’t seem to allow you to set a stop TIME. However, you can make scripts or EA’s to do that.

Hope that helps :slight_smile:

5

The trailing stop concept is exactly what I am looking for but how can I set one up? Im really sorry for being such a newb with MT4 :frowning:

Thanks again

6

Click on a trade to highlight it, then right click, look in the box which opens
"trailing stops" from 15 to 85 & custom. (You cannot set lower than 15 though)

This will then come into effect when the trade goes to +15 pips,
ie 16 pips adds stop loss and at +1 pip profit.

7

got it. THANKS ALOT for ur help guys!