how to use "trailing stop" ?

Is there someone who can explain to me how to use a "trailing stop"?
and how do it work?

It means that the order stop price moves with the current price.

Example:

you bought euro/usd at 14000

Now price is 14050 , you are +50 pips. Order is still open

Set trailing stop now to 20 points. If the price retracted to 14030 , order closes on +30 pips.

If the price moved to 14060 ,now u r +60 pips ,if price retracted 20 points ,order closes on +40 pips.

On MT4 u can see the trailing stop line moves with ur order.

A trailing stop follows price based on a certain percentage or a fixed amount of points.

It always advances but never retreats.

If you have a 20 pip trailing stop and price moves up 20 pips, you will be trading a "risk free" investment (assuming there is no gap or slippage or commissions).

If you have a 20 pip trailing stop and price moves up 1 pip and then down 20 pips, you will lose 19 pips.

It always advances but never retreats.

Trailing stop loss and trailing take profits are orders for SL and TP which are updated with the market based on your conditions and desires. If you want your orders becoming risk free, move your SL level to the opening price once market goes your direction.

Hi, i'm new here and new to trading and i'm wondering, if i place my SL at the open price and i'm on a system that uses commission, i would loose money equal to the amount of the commission right?