A stop loss order which is always attached to an open position and which automatically moves once profit becomes equal to or higher than a level you specify.
A trailing stop is a type of stop loss order attached to a trade that moves as the price fluctuates.
Your stop will STAY at this new price level. It will not widen if the market goes higher against you.
Once the market price hits your trailing stop price, a market order to close your position at the best available price will be sent and your position will be closed.
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