 Stop it What's up money geeks Mr. V here welcome to another video guys so in today's video I want to show you guys how to use the trailing stop loss in webo So if you have been doing the day trading you know, this is a very very important piece of use securing profit So we both has actually introduced this particular feature So I'm gonna walk you guys how to use it on the webo desktop platform So let's jump right in so when it comes to the trailing stop loss on webo platform So again, I'm not going to go through the entire platform to explain to you how things work So basically You have or you know your your sell order you have limit market stop stop loss and then trailing and so The best way for me to explain what the trailing how the trailing stop works for you is Just a good example. Just imagine that you bought Let's say one share of a company at ten dollars a share And then you set your trailing stop loss to so you can you can do either price or percentage I like using percentages, right? So if I do my trailing stop loss, and I said just 5% So in this case I 5% what it means is that if the price falls to nine dollars and fifty cents Of of my my my entry price of ten dollars My stop loss will automatically You know sell my position liquidate my position, which is great because I said at five because I said five percent I mean the next thing you look here is like what if the price rises, right? Because your typical your typical Stop limit order would not move when your price moves. So the beauty about a stop loss A trailing stop loss is that it does move when your price actually moves So you can secure profit and just be happy with it and have to worry about anything So again, like I said, I buy one share of a company at ten dollars I set my trailing stop percentage to five percent. So my my stock goes down to nine fifty It sells that that's stopping just kicking me out. So now the next thing is What if the price goes up? So if the price goes up to say 14 dollars what happens my trailing stop loss order now sits at 13 dollars and 50 cents So it moves for me I don't have to do anything which is beautiful because I remember in the past I've actually told you guys here on the channel how I would have to go in and adjust my my Stop loss and gradually move it in that case. I have to sit there and manually do it But with a trailing stop loss, I don't have to set it once say a present a percentage and walk away So that's just beautiful. So, okay in this case, what if the price goes up to say? $20 what happens my trailing stop loss order would be at 19 dollars because I've said it to five percent What if my price jumped to say $30 per share? I bought it about just one share, right? My price of my trailing stop loss will move up to about $28 and 50 cents guys the beauty is that it's securing your profit for you You're not you don't have to sit there and do it all the time So of course you can set the value to any amount you like so this could be one percent five percent or fifty percent It's totally up to you. I'll say five percent for me because I don't want to lose a ton of money I want to secure as much profit as possible. So if it's that going south five percent as good enough get me out So you're asking like so what are the advantages of a stop of a trailing stop loss? Compared to just your stop limit price. So let's kind of go through some of those. So So this other type will sell your stock automatically when the share Level drops giving you peace of mind. So when you're away from your trading Platform like we talked about so if you're not there it would execute And just you know significantly get you out of the position a so that you don't incur a ton of You know loss, which is good So this all that does not put a cap on profit, which is good because if you do Since I sit here on Weibo If I do let's say a limit order and then you have your stop loss and you take profit So it put a cap on your profit So if I say again, I use example of me buying the one share So if I bought one share of a company let's say at price $10 per share If I say hey if it goes up to $12 that's someone to take my profit right and in this case if it goes to $9 and they kick me out So look at the difference here. The difference is that I put a cap on my profit So if it goes up to $12 it kicks me at my my my take profit would kick me out But then if it keeps going up, I'm missing out Right, so it with a trailing stop loss This is a really really good feature that you want to add to your to your trading Ascender of tools because you can actually Write the market until to the point where it starts to reverse and then it will kick you out Which is awesome. So again, you can walk away from your desk knowing that you're gonna get the maximum At least close to the maximum high of the day in terms of price And then you're gonna secure profit in the process, which is awesome. So number three again is I mean some of the advantages that the trailing stop loss order is very flexible You can enter any trailing stop loss percent percentage of your choice, right? So you can customize it and put it make it your own so you what you feel comfortable deal with and you can Change it as you please any time, which is good. There's no cost to placing a stop loss order Nothing like in zero. There's no fee associated with this trailing stop loss is absolutely free and last but not the least This order allows investor to take emotions out of their trade and instead of It's instant to stick to to predetermined goals. So in this case, you're not you're not sitting there Panicking and thinking like oh man, this price goes up now or trying to move your Your stop loss or your your tick profit. It does it for you Automatically so this is a really good features. I know Tinko Swim has it and people have been asking this on Weibo So this is a really good Addition to the the Weibo family, which I think would really help some of us as investors So and then you might ask yourself like so what are some of the disadvantages of this? So there is no guarantee you will receive the price of your stop loss order again Any of the platforms is really not guaranteed that you get it, right? If the stock price drops quickly your order might not get filled at your predetermined stop So again, you're talking about cases where the price drops so quick Let's say after a halt or something the price drops so quick and then you don't get filled And if there's no volume when the price drops, you don't get filled So that is that's some of the advantage disadvantages that you can actually expect So you lose the ability to make a thoughtful and analytical decision whether to sell the stock after price drops when you might Otherwise team the drop irrational So in this case again, it will kick you out You might think that is an irrational drop in irrational drop is mean like price goes like say from here to here without any explanation no indications Which is crazy. So that is those are some of the things that you would you would think about before Using, you know a trailing stop loss. So here you go guys I think this is a really good addition to know Weibo and again I'm not sure if everybody gets this particular feature because it looks like they're rolling it out in badges So if you don't have it yet, just be patient You might be getting it soon. So check your desk your desktop app and see if you see if you can see the trailing Stop loss, you know featured it and try it and see you see if it works for you I've actually used it. It works just fine. Yeah, my stop laws. I've set it to five percent So each time it goes down five percent of my entry price You get me out and it just keeps moving and securing that profit Which is which is excellent for for us day traders again. I try not to be so greedy Just try to secure my profit. My goal again is $250 a day. I'm not a greedy savage So I don't want to go in there hoping to make $10,000 a day because that's what some people do You end up losing money. So secure profit. So question of the day. What do you think about this new feature? Do you think mr. V they should have had this a long time ago or it's like, oh, it's about damn time that they had this feature I mean, I love the feature. It's a welcome edition. I really love it. I mean, it's a process They gradually getting there the platform is getting better every single day So I hope that me all the other features that we see on on platforms like Tinko swim should someday come over I mean, it's just basically, you know copycat game Everybody does it because you see a feature that people like you copy it and put it in your platform So I don't I don't fault them from doing that but the sooner the better in my opinion So also if you're looking to get started with investing and you don't you have a platform We both currently offering a promotion where you get two free stocks just for signing up and depositing $100 I'll put the links in the description below definitely go check them out and and let me know what you think about the platform And as always guys Stay motivated