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What is Trailing Stop?

A stop order that can be set at a defined percentage away from a security's current market price. A trailing stop for a long position would be set below the security’s current market price; for a short position, it would be set above the current price. A trailing stop 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 right direction, but closing the trade if the price changes direction by a specified percentage. A trailing stop can also specify a dollar amount instead of a percentage.

Stephen, South Africa

As I new to forex its useful information. I'm also  searching about stop orders. But I couldn't find in your questions.


 
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