On Saturday, October 3, there will be a CME Direct software upgrade.

The software release includes: a new automated order type – Trailing Stop.

Unlike a standard stop order, which is fixed, a Trailing Stop is a dynamic risk-management order that tracks the current last traded price by a user-defined interval and automatically adjusts as the market moves in your favor, helping you protect potential profits while keeping your trade open for further gain.

• In a sell stop: The stop price trails below the market. If the market rises, your stop moves up with it. If the market falls, the stop remains stationary.
• In a buy stop: The stop price trails above the market. If the market declines, your stop moves down with it. If the market rises, the stop remains stationary.