- 1). Log on to your brokerage account and go to the trading menu. Choose the option to enter a new trade.
- 2). Choose the type of order you want to enter. You can enter a trailing stop order for a buy order or a sell order. You can also use a trailing stop order with a sell short or a buy to cover order.
- 3). Set the trailing stop order in dollar terms or percentage terms. You can set the stop order for a set percentage, such as 10 percent above or below the current price, or for a set dollar amount above or below the market price.
- 4). Click the "Preview Order" button to review the details of your order. Click "Place Order" to send the order for processing.
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