MT5 setting a stop loss in the profit area

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MarsTheRobot
11
MarsTheRobot  

Hey everyone,


I'm new to using MT5 and had wondered for a while now if it's possible to set a stop loss in the profit area. What I mean by this is that when there's structure in the market and we have swing highs and lows, is it possible to set our stop loss at the previous swing high/ low that's in a profit area?


Makes sense right? I hope so. Anyway does anyone know how to do this? I know how to set the standard stop loss and take profit but thought this function would be good for when I'm not around at my computer.


Thanks everyone :)

Fernando Carreiro
4401
Fernando Carreiro  
MarsTheRobot: I'm new to using MT5 and had wondered for a while now if it's possible to set a stop loss in the profit area. What I mean by this is that when there's structure in the market and we have swing highs and lows, is it possible to set our stop loss at the previous swing high/ low that's in a profit area? Makes sense right? I hope so. Anyway does anyone know how to do this? I know how to set the standard stop loss and take profit but thought this function would be good for when I'm not around at my computer.
Its called a Trailing-Stop! All you you do is update your Stop-Loss with a new Stop-Loss!
MarsTheRobot
11
MarsTheRobot  
Fernando Carreiro:
Its called a Trailing-Stop! All you you do is update your Stop-Loss with a new Stop-Loss!

Thank you Fernando! You saved me :)

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