uTrade Algos

What is trail SL and what is the use of it?

Trail SL, short for trail stop loss, is an advanced order type designed to manage risk and protect profits. It dynamically adjusts the trigger price of the stop loss order based on the net profit-loss achieved, as set by the user. In essence, it allows the stop loss to move in tandem with price movements, ensuring that potential profits are safeguarded while minimising losses. In short, it is an advanced stop loss order that not only manages risk but also provides a layer of profit protection.