Types of Forex Orders

Types of Forex Orders

Types of Forex Orders

Trailing Stop Order

In contrast to the take profit order, if the currency moves in an unfavorable direction, the trailing stop order, also known as the profit-protecting stop order, represents an order you give your forex broker to buy or sell. It is similar to the stop-loss order, but the main difference is that the trailing stop moves as the price moves – allowing you to secure the profits while also decreasing the potential capital loss in the event that the trade does not work out.

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