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Hi there

I have a question with regards to conditional orders....i have found nowhere a clear explanation as to what is the timeframe used in comparing share prices to trigger and execute the orders in bank share trading platforms for retail investors.

For example...if i set a trailing sell order with trigger of 5%

If the price goes up during the day, first 2%, then drops 3%, then up 2%, then down 4%, then up 1%, then down 4%.....so within the day, there were ups and downs at small increments...there wasn't a single drop higher than my trgger...the total downturn though was higher that my trigger.....what time scale does the conditional order look into ?  In order words, the 5% trigger i'm requesting is a 5% price difference between the price exactly when compared to the price exactly when ?

Thanks,

a.