Stop Loss (SL) is a feature that prevents possible losses during cryptocurrency trading and is configured as an addition to open trades.
Take Profit (TP) is also set when a trade is already open. The main purpose of this function is to set a profit target.
The price of a digital coin can not only grow but also fall. In the event of a decrease in the value of the coin, traders set a Stop Loss level at which they are ready to incur losses. Thus, when the price drops to the level specified by the trader, the trade will be automatically closed by Stop Loss.
Take Profit is set to fix profits if the value of the coin grows. If the market reverses in a negative direction and the price of the coin goes down, the order will automatically close in profit.
To get a more efficient result in cryptocurrency trading, traders can also set Trailing Stop Loss and Trailing Take Profit.
Trailing is a stop order that can be set to fix a percentage or number of coins at a lower or higher current market value of an asset. This tool can minimize the loss of funds and maximize profits.
Trailing can be set for both Take Profit and Stop Loss.
To get a more efficient result in cryptocurrency trading, traders can also set Trailing Stop Loss and Trailing Take Profit.
Trailing is a stop order that can be set to fix a percentage or number of coins at a lower or higher current market value of an asset. This tool can minimize the loss of funds and maximize profits.
Trailing can be set for both Take Profit and Stop Loss.
Trailing Take Profit is a feature that allows traders to continue making profits when a specified Take Profit level is reached in case the value of an asset continues to rise. In order to set this feature, the trader must specify the distance between Trailing and Take Profit as a percentage. Thus, if the value of the coin grows, Trailing will move the Take Profit level higher, taking into account the specified distance. If the value of the coin starts to decrease and reaches the specified percentage distance, the trade will be automatically closed. But, if the price does not drop to the specified value and goes up, then Trailing will continue to move the Take Profit.
A Trailing Stop Loss is a feature that automatically moves the Stop Loss level up and is designed to be used in a rising market. To start using it, traders also need to specify the distance as a percentage. If the value of the digital asset starts to decline, the trade will automatically close at the price level that Trailing moved it to.
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Harju maakond, Tallinn, Kesklinna linnaosa, Tornimäe tn 5, 10145,
CryptoRobotics OÜ
© Cryptorobotics. All rights reserved