Trailing Stop

What Does Trailing Stop Mean?
A stop-loss order set at a percentage level below the market price - for a long position. The trailing stop price is adjusted as the price fluctuates. The trailing stop order can be placed as a trailing stop limit order, or a trailing stop market order.

Also known as a Trailing Stop Order.

Investopedia explains Trailing Stop
This is such a useful tool, yet many fail to use it. Using a trailing stop allows you to let profits run while cutting losses at the same time.