Trailing Stop in MT5 Platform

[Clausfx]

Trailing stop (trailing stop) is a type of loss limitation, a moving stop that follows the price at a certain distance, expressed in points. That is, if an ordinary fixed stop remains where it was placed, then in the case of a trailing stop, we get an offset after the price, which, with a sharp turn and the beginning of the movement in the opposite direction, will reduce losses or lost profits. This is an interesting solution that may seem inappropriate to many.

[dushk]

Trailing Stop loss is good depending on your understanding of it and how you use it, I think I like the idea behind it, just that when your laptop is off I am not sure if your trailed stop still holds, that is like the only disadvantage I see there

Yes, Trailing Stop is useful when used in an Expert Advisor, in manual trading I personally very rare using the Trailing Stop. One of the advantage of Trailing Stop it's easy to trailing the stop loss without opening a dialog box and setting it by fix points e.g. 15, 20, 25, 30, etc. Also we can add custom points e.g. 17, 23, 27, etc.

[VictorDeni]

Trailing Stop loss is good depending on your understanding of it and how you use it, I think I like the idea behind it, just that when your laptop is off I am not sure if your trailed stop still holds, that is like the only disadvantage I see there

[normarster]

I have never liked the idea of trailing Stop loss because to me, it means that we don't have confidence in our trading ability and most importantly in the strategy that we have chosen to trade with, we should develop ourselves in a step by step manner so that we can become better traders.

[dushk]

In MT4 had the option to set the TRALING STEP what I found more in the MT5 version. The TRALING STEP was replaced by some other command?