What is a trailing stop loss in Forex Market - forex trading classes singapore

What is a trailing stop loss in Forex Market ~ forex trading classes singapore

Trailing Stop-loss is a compound stop-loss order where a stop-loss price is set at a fixed rate below the market price. If the market price goes up, the stop loss price will also go up proportionally. If the market price goes down, the stop-loss price remains the same. 

In this way, the trader can set a limit on the maximum possible loss but not limit earnings. This means that trailing stop-loss follows the current price by X pips. Therefore trailing stop-loss is a stop-loss control procedure - "it follows the price to profit." Attention! Trailing stop-losses only work when your trading terminal is connected to the server through the Internet. 

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