Trailing stops automatically adjust to the current market price, providing the investor with greater flexibility to profit, or limit a loss.

For example, if we set our trailing stop initially at -10 pips and then the trade moves in our favor 1 pip.

In this case, the stop would move 1 pip from -10 pips to -9 pips.

Trailing Stop order is only functional on the trading platform, thus if you logout or close the platform, the order will be cancelled automatically.