What is a Trailing Stop Loss?
A Trailing Stop Loss is a Stop order that can be set at a defined percentage away from a pair’s current market price. It is designed to protect gains by enabling a trade to remain open and continue to profit as long as the price is moving in the user’s favor but to close the trade if the price changes direction by a specified percentage deviation. That function allows users to specify a limit on the maximum possible loss, without setting a limit on the maximum possible gain.Was this helpful?
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Questions in this section
- Can I cancel my order?
- What happens with my order if there is external error (no response from exchange, delisting of coins, server error etc.)?
- Order’s status
- What is a Trailing sell?
- What is a Trailing buy?
- What is a Traling Take Profit?
- What is a Take Profit order?
- What is a Conditional order?
- What is a Stop Loss order?
- What is a Limit order?