This order type reduces its market order trigger price commensurate to current trading prices. In other words, the trigger price can fall, if the trading price falls below the price it was originally deployed at, but the activation price cannot rise as long as the order remains active.

A trailing market if touched order can be used when one wishes to acquire an asset, but one thinks the price might go lower than it’s presently trading at. The main downside is that the activation threshold might be triggerable with momentarily high volatility.