trailing stop loss
A type of order to close out a position set at a level worse than the prevailing market price and which is incrementally adjusted to better levels as the market moves to favor the position that the order is intended to protect. A forex trend trader could use a trailing stop loss sell order to protect a long position in a currency pair at progressively better levels and still let their profits accumulate as an upward trend progresses over time.
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Bid/Ask Spread