Risk Management
A trailing stop is a stop-loss that follows the price as it moves in your favour, at a fixed distance in pips, percent or price, and stays put when price reverses; it locks in part of an open gain while leaving room for the trend to continue.
A fixed stop-loss caps the loss but does nothing for a trade that has already moved into profit; a fixed take-profit exits at a target but may leave a large move on the table. A trailing stop sits between the two: as price rises (for a long), the stop rises with it, so a reversal closes the trade with a gain instead of returning to break-even or a loss. The cost is that a normal pullback can close a position that would have gone on to hit the target, so the trailing distance is a real design decision, not a detail.
Trailing is an optional rule in the AlgoVesta bot wizard for both crypto exchanges and MetaTrader 5. You set the activation point (for example once the trade is 0.5 percent or 20 pips in profit) and the trailing distance; the platform then moves the venue-side stop as the price advances, checking positions on a short cycle and only ever tightening, never loosening. On crypto futures the moved stop is sent as a protective order that respects the account's position mode; on MT5 it is a modification of the position's SL. A break-even rule (move the stop to entry after TP1) can be combined with trailing. Every stop move is recorded, and the current stop shown in the dashboard is the value reported by the venue. Settings are described on the crypto automation and Forex on MetaTrader pages.
A long on XAUUSD is opened at 2,410 with a 2,398 stop and trailing set to 8 points, active from 6 points of profit. Price reaches 2,416 and the stop moves to 2,408; price continues to 2,430 and the stop follows to 2,422. A pullback to 2,421 closes the trade with an 11-point gain, even though the original take-profit at 2,440 was never reached.