Old iphone Icloud lock still enabled after I buy a new iPhone with icloud on it?

If I had my iPhone stolen with icloud lock on and I was tracking it. But I buy a new one and activate the icloud and tracker, does that mean the old iPhone is unlocked? What happens to it? Will I be notified if someone turns it on? Can I track it?

It locks the actual phone, if you have multiple iPhones connected to 1 iCloud account then you can choose which device gets the iCloud Lock. Now that you've got a new phone, the old phone will remain iCloud Locked until you go to www.icloud.com and remove the lock. The new phone won't be locked unless you go to www.icloud.com and enable the iCloud Lock. Apple know that people have multiple devices under 1 account, so it would be stupid if it locked all the devices of that account

No, it would show both on your account.