MetaTrader

What is trailing stop? What's the difference between trailing stop and stop order? Does it work when the computer is off?

«Trailing Stop» is the following algorithm to control Stop Loss orders:

1. No actions are taken till the moment when the position enters the profit area on X pips («Trailing Stop» level);

2. Once the profit exceeds the «Trailing Stop» level an order to place Stop Loss X pips away from the current price (in this case on the break-even level) is sent to the server;

3. Once a quote comes and the distance between the current price and the placed Stop Loss order is more then X pips («Trailing Stop» level), an order to modify the level of this order and place it X pips away from the current price is sent to the server.

Note: «Trailing Stop» works on the Client Terminal (whereas Stop Loss and Take Profit work on the server). Consequently, Trailing Stop functions when the Internet and MetaTrader are active only. When MetaTrader is not active only Stop Loss, if it was placed by the «Trailing Stop» earlier, will work.