How does the Trailing Stop Loss work?
Trailing Stop Loss works depending on the type of the position:
- For a BUY position, if the market price is rising, your TSL will rise too, in 1-pip increments.
- For a SELL position, if the market price is falling, your TSL will fall accordingly, in 1-pip increments.
If the market is moving in the opposite direction (against you), the TSL will not move, and the position will close if the Stop Loss rate is reached.
