setup trade in MT4 without a TP

is it possible to setup a trade in MT4 without a TP and simply allow a trailing SL take you out of the trade ? Thanks

Yes can using an EA (not sure whether there is a built-in functionality for this in MT4) and the MT4 has to be running for the EA to work, of course (i.e. you can't attach the EA and then shut down MT4).

Yes it is possible but you will need expert advisor (EA) to be able to do that

any ideas of such an EA?

Sure, it's possible. You can manually exit trades at any profit level you choose. I always set TP's when I'm sleeping or AFC. Happy Trading.

there is no "built-in trailing stop" function in metatrader, but it can be implemented using the programming language that is a part of the metatrader system(only on the pc, not on android)

it is NOT available to write custom code to automate your trades on the android version of metatrader, and i have no experience with anything on the iphone so i can not advise about that.

a trailing stop system is too complex to be handled manually, and therefore must be fully automated, there are just too many precise calculations to make to do this by hand.

Open an order, go to the Trade tab of the Terminal window, right-click over the order number and finally go to Trailing Stop.

Check MQL5 site, you will see a programmer that can code it for you.