How does trailing stop works

[mumuy]

A trailing stop loss basically works on stop loss order that automatically moves on price progress in the direction that we are trading. If the trade moves back towards the trailing stop loss order, the order will stay stationary until it hits. A trailing stop continues to follow the price reducing your trading risk with every move of market will ultimately lock in profit. This is very useful thread for those traders who don't know about trailing stop and hope my thread makes your trading more perfect.

After stop loss and take profit trailing-stop is very good tool for a trader i think we need to use it in our trading style, if we have to get more and more success in forex trading, trailing-stop lock our profit and allow us to safely pick our profit, but it all depend on us where we want to limit the loss or profit.

 

[Rambo35]

A trailing stop is a good tool to use when you are connected to your trading platform. It allows you to no having to monitor your open and earning trading position. When you go offline the last recorded level remains in place.

 

[mumuy]

I agree, it is the best way to monitor your account without looking into your computer every minute and every hour....

 

[AlexOZ]

I like trailing the stop loss after break even. Scaling out is another option.