A trailing stop loss is a special type of trade order where the stop-loss price is set at a predetermined level below or above current market price.
As the value of the asset moves up or down (depending on the direction of the trade) the stop loss will continue to move at its predetermined distance with market price.
What to be careful
Trailing Stop order gets triggered only once the market price reaches to the first level you have set. Otherwise, the order won’t be triggered and won’t work at all.
In case you logout or close the platform, all trailing stop orders will be cancelled.