What's Difference between Stop Loss Indices Order and Trailing Stop in Indices Trading?

A stop loss is set at a particular level and this level remains constant while for a trailing stop loss the stop loss level keeps moving with the change in stock price - trailing stop is updated as the price moves.

What's Stop Loss Indices Order on MetaTrader 4?

A stop loss order is an order used in indices trading to close an open trade if the trade transaction moves against the trader's position by a certain number of pips.

Once the stop loss order is set at a specific level, this stop loss order will automatically close the open trade once the price chart gets to this stop loss order price level. Stop Loss order is used in indices trading money management so that to prevent further losses if a trade position is going against the direction of the trader's open trade position.

What's Trailing Stop Loss Indices Order?

A trailing stop loss is a stop loss zones that keeps adjusting itself automatically by set number of pips once the trading market moves in direction of the trader's open trade by a number of pips.

For example the trailing stop can be set at 30 pips & set to adjust itself to 30 pips automatically once the price moves upward by 5 or 10 pips. This means that this trailing stop loss order will keep trailing the price as long as the price keeps moving in direction of the trader's open position.

This trailing stop loss will close out the order once the market starts to retrace & it retraces to the level of the most recent set trailing stop loss level.