A trailing stop is a stop that follows the trade as it moves in your favor and stays put when it moves against. For a long, the stop is some distance below the highest price since entry; for a short, some distance above the lowest. Only the favorable updates apply — the stop never widens.
Trailing distance is typically defined the same way as an initial stop: a fixed percent, a number of ATRs, or a chosen swing low. The 'chandelier exit' (3 × ATR from the highest high since entry) is the canonical volatility-adaptive trailing stop.
Trailing stops solve the 'when to take profit?' problem without picking an arbitrary target — they let winners run and exit only when price reverses meaningfully. The trade-off is giving back some open profit on every exit.
Formel
long: trail_t = max(trail_{t-1}, highest_high − k · ATR)
short: trail_t = min(trail_{t-1}, lowest_low + k · ATR)Beispiel
Long at 50,000, k = 3, ATR = 200. Highest high since entry = 51,500. Trail = max(49,400, 51,500 − 600) = 50,900.
Wie Noon Barbari Trailing stop nutzt
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Build trailing exits →Verwandte Begriffe
- Risiko
Stop loss
A pre-committed exit level that caps the maximum loss on a trade.
- Risiko
Take profit
A pre-committed exit at a target price that locks in a winning trade.
- Indikatoren
Average true range (ATR)
Rolling average of the true range — the canonical volatility measure for stops.
- Orderarten
Trailing stop order
Exchange-side order whose trigger ratchets as price moves in your favor.