Can I use trailing stop loss?

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Currently trailing stop loss is available for CFD accounts (unfortunately it is not available for the residents of France).

Definition

A trailing stop loss is a type of stop-loss order that works by automatically adjusting the stop-loss price as the market price moves in your favor. 

The trailing stop only moves up once a new peak has been established. Once the trailing stop has moved up, it can't move back down. A trailing stop is more flexible than a fixed stop-loss order, as it automatically tracks the stock's price direction and does not have to be manually reset like the fixed stop-loss. Please note that slippage may still occur.

Example

Let’s say that you think the Bitcoin is entering into a bull market, so you decide to buy it at $6000 with a trailing stop set at $5500 or $500 below your opening price. Each time when price sets new high - your trailing stop moves with it. Suppose the Bitcoin hits a high of $6001 – your trailing stop would have moved up to $5501, Bitcoin $6700 - your trailing is $6200 and would be triggered if the market fell below this price. When your position closed, you would still earn a profit.

If you had used a basic stop on the trade, it would have closed your position at $5500, earning you a loss.

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