A trailing stop is a stop loss set in a trade to prevent a loss in a trade; in my post “How easy it is to trade - Step by step - And how to minimize risk in a trade” is the figure explained; the post is divided into steps and the trailing stop is explained in step 4.
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You can also use a fixed dollar amount, which should also be equivalent to 1% or less of the value of your account. For example, you might risk $75 per trade. As long as your account balance is $7,500 or more, you'll be risking 1% or less.
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