A trailing stop-loss order (also called 'trailing stop order') is a stop order where the stop price adjusts according to a security's price.
For example, let's say that you purchase 5 shares of $ABC at $300/share with a trailing stop-loss amount of $20. If the price of $ABC drops to $280/share, a sell order will be placed to sell your shares. However, if the price of $ABC were to rise to $400/share, a sell order would not be executed until $ABC dropped down to $380/share ($400 - $20).
Once you place a trailing stop-loss order through our website, our server's will monitor your selected security's price movement using real-time prices from the IEX top of book quote feed which provides the best quoted bid and offer positions in real-time for all securities on IEX's displayed limit order book. Once criteria is met for your trailing stop-loss order, a stop-loss sell order will be placed through your Robinhood account, immediately. It is important to note that no order(s) will be placed through your Robinhood account until criteria is met for your trailing stop-loss order.
Our service is still in beta as we work out some final kinks, however our service is now open for registration to everyone. Thank you to all of our initial testers who have provided valuable feedback to us over the last few months!
We offer a free subscription to our website, but the number of orders you can place will be limited. For a monthly fee of $9.99, you can place unlimited trailing stop-loss orders through our website for up to 20 securities at a time. Unfortunately, our high-speed infastructure and access to real-time pricing data is expensive and we need to charge a small fee so we can stay in business for you.
$9.99 / month
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