Trailing Stop-on-Quote Orders

If you place a trailing stop-on-quote, you place a trade order set at a certain percentage or dollar decimal spread away from the market price. As the market price changes, your stop price changes accordingly. In effect, your stop price 'trails', or follows, the market price. Trailing stop-on-quote order executions are based on the bid (sell orders) and ask (buy orders) price of the stock.

Trailing Sell Stop-on-Quote Orders

  • The stop price (trigger price) adjusts upward as the stock price increases.
  • The trigger price does not move when the stock price decreases.

Trailing Buy Stop-on-Quote Order

  • The stop price (trigger price) adjusts downward as the stock price decreases.
  • The trigger price does not move when the stock price increases.

Trailing Buy to Cover Stop-on-Quote Orders

  • The stop price (trigger price) adjusts downward as the stock price decreases.
  • The trigger price does not move when the stock price increases.