Trailing stop automatically adjust the deal SL value according to price movement on predefined distance.
How trailing stop works.
A trader sets a trailing stop value in pips. Depending on the instrument type upon the next bid, ask, or last price change if the difference between a deal SL and the price is more than trailing stop value the SL starts following the price accordingly.
In case the price starts moving in opposite direction, the SL remains the same until the deal closed or the price continues to move in the intended direction.
Depending on the instrument type the current price is:
- last price, for Stocks, Crypto
- bid price for all other instruments with Buy direction
- ask price for all other instruments with Sell direction
Setting up trailing stop in the terminal.
To activate trailing stop open the Edit deal window from the chart or Positions tab. Tick the box Trailing stop and set value.
To disable trailing stop just untick the box and click update.
Trailing stop features.
- Setting or editing a trailing stop affect the SL value only upon the next price change.
- Trailing stop is a server side feature so it remains working even if the terminal is off.