“Trailing Stop Sell” order on Bittrex, Binance, Kucoin, CEX.IO, Huobi-pro
A Trailing stop sell order sets the stop price at a fixed amount below the market price with an attached “trailing” amount. As the market price rises, the stop price rises by the trail amount, but if the stock price falls, the stop price doesn’t change, and a market order is submitted when the stop price is hit. This technique is designed to allow an investor to specify a limit on the maximum possible loss, without setting a limit on the maximum possible gain.
Using www.trailingcrypto.com, cryptocurrency traders can now perform Trailing Stop orders on all those exchanges which doesn’t natively support these kinds of order.
This Tool is Free to use and currently provide support for Binance, Binance Futures, Bittrex, Bitmex, Kucoin, CEX.IO, Poloniex, Hitbtc, Huobi Pro, OKex, Coinex, Indodax, Timex, Kraken, Bitstamp, Binance US. Under one platform now user can trade on all the supported exchanges and order types supported by those exchanges.
Cryptocurrency trading has grown in popularity nowadays and traders are looking to optimize profits and minimize losses through trailing sell orders and trailing limit orders. There are several orders traders can use to protect their investment and optimize profits.
What is a trailing stop sell order?
A trailing stop sell order is a trading order whereby the trader will set a fixed stop price for the order below the current market price as per the trailing amount. Interestingly the stop price increases concurrently with an increase in market price but it is always rising with the initial interval set by the percentage of the trailing amount.
Once the stop price is attained the order will then be triggered and the same can also be done in reverse for a buy trailing stop sell order. With this kind of trading strategy investors and traders can minimize their maximum possible losses with endless possible gains.
To set up your stop sell order on TrailingCrypto using Binance you select the exchange from the main tab using the drop-down arrow. Then select the order type, in this case, it will be a trailing stop sell order and then pick the quote and base coin. When picking the number of coins you want to sell you can specify the number of coins or you can select a percentage option.
Input the quote price you bought the crypto and if you leave it blank then the current market price will apply. The offset will be the fixed percentage just before the market price which is an offset of the peak market. In the event, the market price increases the trailing stop loss amount will increase, and in contrast, if it drops the stop loss doesn’t change.
For more information regarding “Placing Stop Sell and Trailing Stop Sell Orders” read our new article:
https://trailingcrypto.medium.com/an-ultimate-guide-to-placing-stop-sell-and-trailing-stop-sell-orders-7f1b4d3b7ab4
