Smart Orders: Trailing Stop Loss comparison
In V4.1, Altrady has introduced 3 new Trailing Stop Orders that can be used as stop losses for Smart Orders (including Signal Bot orders). These provide options for traders to automatically reduce their risk exposure when the price is going in their favour. These orders can only be used as exits for Smart Orders, along with at least one Entry order, and optionally, Take Profit Orders as well.
This article gives an outline and comparison of the three types of TSL orders. More details can be found for each specific order type:
Altrady offers three types of Trailing Stops for Smart Order exits:
Trailing Stop type | abbreviation | Useful with # TPs | Description | Other |
|---|---|---|---|---|
Average Entry Price | AEP or AE or EP | 2 or more | move the SL to the average entry price once TP1 fills | Before TP1 is reached, Stop loss will be at the original price. |
Follow Take Profit | FTP | 2 or more | move the SL to the average entry price once TP1 fills. Continue to move the SL to TP1, TP2 TP3 etc. as more Take Profit orders are filled. | Before TP1 is reached, Stop loss will be at the original price. For 2 TP orders, TSL:EP and TSL:FTP are identical. |
Follow Price | FP | 1 or more | Once the TSL is triggered, trail the Stop Price behind the last price by the specified percentage. This option works in a very similar way to our standard Trailing Stop Loss order but for a Smart Order | The Stop loss will be at the original price until TSL:FP trigger price is reached. |
Adding a TSL to a Smart Order
- After entering the entry details, turn on Stop Loss section of the Trading widget.
- Select Market or Limit Stop Loss.
- Once a TSL is triggered, remaining entries are cancelled as these can never be filled (the SL would be executed first).
- Where a Limit SL is chosen, the difference between the Stop and Limit Prices will be used for determining the Limit Price for the initial Stop Loss AND the Trailing Stop Loss.
- An initial price is entered for the Stop Loss. If the price moves directly down from the entry, and the TSL is not triggered, then the Stop Loss will remain open in the original position. This provides risk protection from the outset.
Editing a TSL: FTP or TSL: AEP After Trailing Has Occurred
Attempting to modify the Stop price for a Stop Loss with TSL:FTP (or AEP) after trailing has occurred, will display the following window:
- Clicking this button will reset the Stop price to the level it was moved to, after trailing occurred. The position will still be in edit mode after this is clicked. The edit will need to be cancelled thereafter, or any other changes to the position will still need to be confirmed, by clicking Place Order.
- Clicking this button will disable protection for the Stop loss and will allow it to be moved as desired. The position will still be in edit mode after this is clicked. Place Order will still need to be clicked to confirm that the protection is removed, alongside any other changes that might be made to the position.
Related Content:
A comparison between the TSL: Follow Price and the standalone Trailing Stop Loss (found at the top of the Trading Widget).
Smart Orders: Trailing Stop Loss: Follow Price
Smart Orders: Trailing Stop Loss: Average Entry and Follow Take Profit
Updated on: 14/07/2025
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