How do I use trailing stop orders to protect profits?
Asked by Tanay Last Modified
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Answer when you take any trade and it goes to your favor then you change your stoploss to upside to reduce risk.
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Khalid
Professional Stocks and Forex trader with 4 years of experience.
To use trailing stop orders to protect profits, set a stop order at a specified percentage or dollar amount below the current market price. As the stock price rises, the stop price trails at a set distance. If the stock price falls by the defined distance, the stop order becomes a market order, helping...
read more To use trailing stop orders to protect profits, set a stop order at a specified percentage or dollar amount below the current market price. As the stock price rises, the stop price trails at a set distance. If the stock price falls by the defined distance, the stop order becomes a market order, helping lock in profits while allowing for potential further gains. Adjust the trailing distance based on market conditions and risk tolerance. read less
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