Stop Loss is intended for reduction of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when price changes strongly in the same direction or when it is impossible to watch the market continuously.
Once a trailing stop has been placed (for example, if a trailing stop's value is 15 pips) the following occurs:
How to specifyTrailing Stop level
Note: It is very important to note that no Stop Loss order will be placed until the market moves in your favor, as mentioned above. Therefore to limit losses, a separate Stop Loss would need to be placed manually.
In order to place a trailing stop, highlight the open position in the ‘Trade’ tab of the Terminal window and right-click to open the context menu.
