Trailing stop is very useful tool and it helps us to keep our profit but I think many of traders do not give importance to this too. So what about you do you use this tool?

Traders can improve the viability of a stop loss by matching it with a trailing stop, which is an exchange order where the stop loss cost is not fixed at a solitary, supreme dollar sum, yet is fairly seta at a specific rate or dollar sum beneath the market cost. It drags the trailing stop alongside it. Then at that point when the cost at last quits rising, the new stop loss value stays at the level it was dragged to, accordingly consequently ensuring a financial investor drawback, while securing benefits as the value arrives at new highs.

Trailing stops are utilized in trading to manage risk and protect profits. They automatically adjust as the market price moves, allowing traders to lock in gains while giving room for further profit potential. By setting a trailing stop, traders can limit potential losses by selling a position if the market reverses and moves against them. Additionally, trailing stops enable traders to capture gains during strong upward trends without the need to constantly monitor the market. This strategic tool helps traders implement disciplined risk management strategies and adapt to changing market conditions, enhancing overall trading performance and preserving capital.