Trailing Stop Orders

Modified on 2016/09/13 13:00 by Rob Rrickson (CTS) — Categorized as: Uncategorized

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Trailing orders automatically track the market best bid or offer price. As the market moves away from the order it will be revised to keep it the same distance from the best bid or offer, if the market moves back towards the order then the order will not be revised.

Note that revisions will only occur every 10 seconds, but it will revise the order to track the biggest movement in the market during that 10 second period.

Trailing stops are useful for when you are not watching a market as they provide a loss limit if the market goes against you, but will track a market that goes with you then taking a profit (or reduced loss) if the market later turn against you once more.

  1. Set a volume greater than zero You can do this by using the Number picker or the Volume bar.
  2. Set the Stop order toggle By selecting from one of the stop order types it changes from black to orange. This means the next order submitted will be a stop order.
  3. Set the Trailing order toggle By selecting the trailing order type it changes from black to orange. This means the next order submitted will be a trailing order.
  4. Buy Trailing Stop Left Click in the My Bid column above the current market. The order will revise to lower prices if the market moves down. If the market moves up the order will stay at the current trigger price.
  5. Sell Trailing Stop Left Click in the My Offer column below the current market. The order will revise to higher prices if the market moves up. If the market moves down the order will stay at the current trigger price.
    6. Image Click Yes on the confirmation window to submit the trade. Click No if you don’t want to submit the trade.