What is a Trailing stop?

When you set a trailing stop (for example, for 30 pips), the following happens:

The platform does not take any action until the position has “gone” in profit by 30 pips (the value of the trailing stop). After that the trading platform sets a stop loss at a distance of 30 pips from the current price (in this case – at the breakeven level).

When you receive a quote where the distance between the current price and the set stop-loss exceeds 30 pips (the value of the trailing stop), the program sends a command to change the stop-loss to a distance of 30 pips from the current price. Therefore, your stop-loss is “pulled” to the current price at a distance of 30 pips.

On the trading platform Dexly – Trailing stop always works, even if you have closed the platform and turned off your computer.