Trailing Stops

A Trailing Stop order type is a buy/sell/short order whose stop price will trail either the current inside ask (if buying) or inside bid (if selling/shorting) at the time the order was submitted by the value you specified in the Trailing Amount field.

EXAMPLE

• You have a trailing stop of 5% set.
• If at any point the bid or ask price retraces the specified Trailing Amount, a Smart Market order will be routed for the quantity you specified.
• If you place an order to close a position using a trailing stop set to 5%, if the bid price increases 9% and then drops 5% the order will be sent at that time.

When placing a Trailing Stop order, please note that you cannot change the order to another order type using the Change feature in the Order Status window, nor can you change another order type to a Trailing Stop order. In both cases, you would have to cancel the order and resubmit with a different order type.