What are the differences between trailing stop loss and trailing stop limit in the context of cryptocurrency trading on Fidelity?

1 answers

• Andy CarterDec 29, 2022 · 4 years ago
  Trailing stop loss and trailing stop limit are two commonly used order types in cryptocurrency trading on Fidelity. Trailing stop loss is a dynamic order that adjusts the stop price as the market price moves in your favor. This allows you to lock in profits and protect against potential losses. Trailing stop limit, on the other hand, combines the features of a trailing stop order and a limit order. It sets a stop price and a limit price, and if the market price reaches the stop price, a limit order is triggered. The limit order will only be executed at the specified limit price or better. Both order types have their advantages and disadvantages, so it's important to understand how they work and choose the one that aligns with your trading strategy and risk tolerance.
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