What's Difference between Stop Loss Gold Order and Trailing Stop?

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 xauusd trading price - trailing stop is updated as the xauusd trading price moves.

What's Stop Loss Gold Order in MetaTrader 4 Software?

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

Once the stop-loss order is set at a particular level, this stop loss order will automatically close-out the open trade once the trading chart gets to this stop loss order xauusd price level. Stop Loss order is used in gold money management so as 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 XAUUSD Order?

A trailing stop loss is a stoploss levels that keeps adjusting itself automatically by a set number of pips once the xauusd market moves in the 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 xauusd trading price moves up by 5 or 10 pips. This means that this trailing stop-loss order will keep trailing the xauusd trading price as long as the trading price keeps heading in direction of the trader's open position.

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