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A trailing stop is a ‘smart’ stop order that recognizes that losing only a certain % of money is acceptable, and a hard price level isn’t always appropriate. A trailing stop will effectively follow the current position’s profit, and it will execute if the price goes in the opposite direction. However, if the trailing stop is set too tight, in a volatile market a position can be closed before it really is desirable.
Trigger level for Buy order should be reached on the Ask price at broker in order to activate the Trailing stop order. Trigger level for Sell order should be reached on the Bid price at broker in order to activate the Trailing stop order. Most likely you are using Trade prices as Quote Field on the chart.
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