Trailing Stop vs Trailing Stop Limit

[TonyM_M]

Hi!,
I am starting trading in Kraken.com. In the advanced order options, it provides with a Trailing Stop and Trailing Stop Limit conditional closes.

I understand howa Trailing Stop works but I am not sure about the Trailing Stop Limit in particular since it provides these two limits:

  Stop Offset (+/=/-): ___  Eur
  Limit Offset (+/=/-): ___  Eur

Each field provides the option + = - to a particular price. For what I can understand as it is described in https://support.kraken.com/hc/en-us/articles/203325793-Stop-Loss-Orders , If, for example, If the current bitcoint price is 366€ and I want to activate a trailing stop at 4€ below the price once it reaches 373€ should I set the trailing stop order as follows?:

Current BTC price: 366€
  Stop Offset (-): 4  Eur
  Limit Offset (+): 7  Eur

Is this corrent, or am I messing with the +/-/= options?

Thanks,
Tony

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[Fortify]

You're best off reaching out to the support team at Kraken to clarify as most trading platforms in different ways and a small misinterpretation here could cost you a lot of money. Also remember that stop limits may not be able to help you if the market drops suddenly and your sell orders don't get fulfilled.

[bitmarket.net]

Stop order or trailing stop order means that once the set condition is triggered, the MARKET ORDER will be sent to the exchange.
Market order means that you will buy or sell at whatever price is currently available at the market.

Stop limit order means that once the order is triggered, the LIMIT ORDER will be sent to the exchange.
The advantage is that you know in advance that you will not get the price worse than your limit, the disadvantage is that your order might not get filled.