Trailing Orders

Brief

The article describes a trailing order and explains how it works.

Details

A trailing order is an order that adjusts its price automatically as the market price moves in a certain direction. In other words, a trailing order follows the market price movement by a trailing step that specifies a distance in pips by which the market and order prices change. A trailing step can have the following values:

• None - no trailing step is specified.
• Fixed - a trailing step is specified as a fixed value. The allowed values of the step are 10 through 300.
• Dynamic - trailing step is equal to the minimum price change, which is 0.1 pip cannot be changed.

Trailing orders stay closer to the market price and are executed with less loss than orders with fixed rates.

A Stop order added to a market, entry, or contingent order can be made trailing.