Trailing order
Last updated 14/05/2023
A Futures-specific algorithmic order offered by Binance.
WARNING! When buying, you must place an order BELOW the current market price, and when selling, you must place an order ABOVE the current market price.
Trailing order algorithm
Once the trigger price is reached, the order will follow the market trend at a deviation distance (Callback Rate) that has been set.
If the price during a pullback from the maximum point (extreme) exceeds the distance set in "Callback Rate", the order will be executed as a Market order.
Currency pair price movement
Callback rate
Trailing activation
Stop loss points
Trailing order price movement
Closing position at market price
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