Trailing TP/SL allows traders to preset orders within a specific percentage range of the market price. When the market moves in a favorable direction and then retraces, it helps limit losses and protect profits.
As the price moves favorably, the trailing TP/SL price moves accordingly by the preset percentage. It never moves in the opposite direction.
How Is Trailing TP/SL Executed?
Trailing TP/SL is only used to close existing positions.
For long positions:
The activation price must be higher than the current market price. Once triggered, the trailing price moves upward by the set percentage. If the price retraces and reaches the trailing price, the position is closed at market price.
For short positions:
The activation price must be lower than the current market price. Once triggered, the trailing price moves downward. If the price rebounds and reaches the trailing price, the position is closed at market price.
Execution requires both activation and retracement conditions to be met.
How to Set Trailing TP/SL?
Trigger Conditions
Market price reaches activation price
Retracement ≥ preset trailing rate
Trailing Rate
Adjustable from 0.1% to 99%.Activation Price
Can be set manually or based on the latest market price.Trigger Order
Triggered by the latest market price.Market Execution
Orders are executed at market price once conditions are met.