⚠️ What is a trailing stop order?
A trailing stop order is a type of stop-loss order that moves with the price as it moves in the trader's favor. It helps lock in profits while giving the trade room to grow. When the price moves favorably, the trailing stop adjusts automatically, maintaining a specified distance from the current price. If the price reverses and hits the trailing stop level, the trade is closed to protect profits. Trailing stops are popular tools among traders who want to protect gains in trending markets.
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