While we were talking about “Take Profit“, we said that professional players move their stop-loss orders gradually in the direction where the price is going instead of using “Take Profit” orders. You can do this transaction automatically with the following stop order.

 

To give the following stop order, you need to have a stop-loss order. That’s why the following stop-loss order is not a single order. You turn a normal stop-loss order into the following stop-loss order. While doing this, you decide on the following distance. This way, every positive move of the price makes your stop-loss order move step by step with the updated price. Thus, it protects the distance. Thereby, it uses your stop-loss order as a barrier that increases your profit.

 

Following stop-loss, an order needs an online platform to work differently from Stop-Loss and Take-Profit orders. This means your platform needs to be open and online to make it work or it doesn’t work. That is because following stop-loss order transmits orders to the server in every movement of the price as “take this stop-loss order to this point”. To do this, it has to be connected to the system.

We will also view the process of this order in our lessons.