Trailing stops: protecting winners.

Three ways to trail.

• Fixed distance: a set number of pips behind price (MT5 has this built in).
• ATR-based: 1.5–3× ATR behind price, so the stop adapts to volatility.
• Structure: move the stop under each new higher low (or above each lower high).

Setting it in MT5.

Right-click an open position → Trailing stop → choose the distance. Note: MT5's built-in trailing runs only while your terminal is open.

Common mistakes.

• Trailing too tight and getting stopped out by normal noise.
• Starting to trail before the trade has moved at least 1R.
• Forgetting that open profit still counts toward drawdown until the trade closes.