What is a Trailing Stop Loss?
A Trailing Stop Loss works like a regular Stop Loss except that it will trail the price at a set distance if the trade develops in the trader’s favor and remain the same if it does not. It is used to limit losses if the market goes against the member’s trade and to “lock-in” any profits if the market moves in your favor.
Example: If a member sets Stop Loss for a long position at 200.00 while the market price is at 210. If this member activates the Trailing Stop Loss it will trail the price at a distance of 10. It will be updated to keep that distance if the price moves away from the Stop Loss and will remain unchanged if the market price moves closer. Once enabled the Stop Loss is updated every 60 seconds.