Do you want to reap the benefits of volatile cryptocurrency markets? You want to protect and minimize losses, but also maximize profits. You must know the best methods and techniques for crypto trading if you wish to limit your loss, continue?
You’d like to profit from the growth in value of your crypto-assets and will be patient, yet you’re unsure if it’ll take long. The prices are constantly fluctuating as you are waiting. It can be painful for you to realize that a gain disappears, and then turns into losses. You’d like to be able to handle the losses. What can you do to limit your losses?
This is possible using Trailing Stop Limit Order. This tool will give you some control over the fluctuating market movements.
What exactly is a trailing Stop Limit Order?
A trailing stop limit order is designed to allow a crypto trader to specify a limit over the maximum risk of loss without putting any limits on achievable gains. This is a unique type of order which comes with the stop-limit trail time interval to provide additional protection against downside. TrailingCrypto is among the most reliable crypto trading terminals which allows its users to place trailing stop order intelligently and efficiently.
This order type allows its buyers to define the Trigger Delta that is the amount of how much the value of a cryptocurrency could drop before you submit a sell request or raise prior to placing a buy order. The trigger delta can be specified either in percentages or an amount. When you set the delta trigger, TrailingCrypto will continuously calculate what price triggers your order based on the current prices in the market for your asset, as they move in the direction of a positive. If the market price changes directions, your trigger price won’t change.
If your order is activated the trigger, you’ll have an order-limit for the purchase or sale of cryptocurrencies. It will be possible to determine the limit price through specifying how far from the trigger price you can allow for the purchase or selling of the asset. It’s also referred to by the name Limit Offset.
Trailing stop limit sell
An sold trailing order moves with the market prices, and continually resets the trigger price by an amount that is fixed below market price, in accordance with the user-defined trailing amount. Limit order prices are calculated using the offset. Limit price and stop price each increase when the price rises. But if the price falls downwards, the stop value remains unchanged. The Trailing Limit Sell Order one of best trading tools for cryptos. It permits limits to sell orders to be able to monitor the rate of change of the crypto pair. Let’s understand it with an example
Imagine a trader putting an order for a limit-trailing sell on XBT/USDT. After this, the trader set the gap between the trigger and trailing Delta to be 10%. Thus, the limit sale order is always 10% less than the current market value of XBT/USDT. If the currency pair fluctuates between 9,500 to 9,400 points, the following amount is reset to the previous value.
Thus, the distance between the market price of the pair and the limit sell order remains 10 percent. In the event that it increases in value then the limit price does not go down.
How do I calculate the trailing sell limit order?
The first step is to select your intended exchange
Open the window for orders and then choose Trailing Limit. Sell
When you’ve specified the kind of order you want to place, type in the required parameters. It is possible to, for instance you can select USD Trade against Bitcoin to trade on the market. The amount you choose to use is five BTC or 10 BTC and whatever else you’d like to. If you want to offset the amount it is possible to select 10 percent. The time is now to put in an order.
The order has been being displayed in the Order window.
The trailing limit stop sell order mirrors exactly the to the mirror image. It is a great way to safeguard profits made through short selling, or when you attempt to purchase any share that’s bouncing off due to market low.
Below is the step-by-step guide on how to make a trailingstop purchase with TrailingCrypto.
Pick the exchange
Stop buy purchase with Trailing option
Choose the base coin and select the quote. You can select the quantity of coins you want to purchase. Pick the proportion you would like to make use of. Let’s say, 10 BTC or select 10% of BTC.
Enter the quote coin price at which you buy. The field is based on the current market price, if there is no value.
Choose the offset, which is a fixed percentage above the price of market.
Submit order