Trailing Orders

Brief

Trailing orders are a group of orders whose price automatically changes as the market price moves.

Details

Trailing Orders are a group of orders which price automatically adjusts as the market price moves in a certain direction by a trailing step. In other words, a trailing order follows the market. Stop or stop entry order for Sell moves up when the market moves up, and for Buy it moves down when the market moves down; limit entry order for Sell moves down when the market moves down, and for Buy it moves up when the market moves up. A trailing step defines a distance in pips by which the market price should move to make the order price change by the same number of pips.
There can be two types of trailing steps: Fixed and Dynamic.

• A Fixed trailing step is defined by the trader. The allowed minimum and maximum values of the step are defined by the system.
• A Dynamic trailing step is equal to the minimum price change, which is 0.1 pip. A Dynamic trailing step cannot be changed by the trader.

The following types of orders can be trailing:

• Entry orders
• Stop (net) orders
• Stop orders

You can place trailing orders instead of changing the order price each time when the market moves in a certain direction.