What is a Trailing Stop?
What is a trailing stop: A trailing stop is an incredibly powerful instruction that can function both as a Take Profit or Stop Loss order. However, rather than triggering at an exact Stop Loss price, it is instead triggered by a specified amount of loss incurred by the most recent optimal LastPrice. (Read our crypto technical analysis on Effective Exit Trading Strategies to improve trading) To simplify the concept, imagine a simple scenario: You open a Long position of any given contract with an Entry Price of $1000. You then select the Trailing Stop option and set a Trail Value...