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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.

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