Trailing Distance for GC Trailing Stop orders can be set either as a % of the current price or as a hard number (e.g. If the market price ‘touches’ the Stop, the underlying Market or Limit order is sent to the exchange. Trailing Stop order has a Stop (order trigger) that follows (trails) market price at a specified distance (Trailing Distance) when the price moves in the chosen direction, but remains in place when the price moves in the opposite direction. We will cover order mechanics, most common trading strategies, differences between Trailing Stop Market and Trailing Stop Limit orders, and even explore the use of the advanced Trailing Start feature available in Good Crypto app. In this post, we will guide you through all the nuts and bolts of trading with Trailing Stops. Trailing Stop orders could be a bit overwhelming at first and take some time to get a hold of. You can use Trailing Stop orders whether you trade on Binance, Coinbase Pro, Kraken, Bittrex, or any of the other 25 (and counting) exchanges in the app. That is why the Good Crypto app offers synthetic Trailing Stop Market and Trailing Stop Limit orders for every crypto exchange we support. We at Good Crypto believe that every crypto trader should have the best trading tools at her disposal. If you are trying to find Trailing Stop on Binance or Coinbase Pro – you are out of luck. ZERO crypto exchanges support Trailing Stop Limit orders. At the moment, only four spot crypto exchanges (Bitfinex, Bitstamp, OKEx, and Liquid) and three derivatives exchanges (Bitmex, Binance Futures, and FTX) support Trailing Stop Market orders. Whether you are looking to enter a position or close an existing one – а Trailing Stop order is there to help, allowing you to buy exactly when the downtrend reverses and sell after the uptrend runs out of steam.ĭespite being available on most popular stock and forex trading platforms, from Thinkorswim to Robinhood, Trailing Stop is a rare sighting in crypto trading. How to use the Trailing Start feature of the Trailing Stop orders in Good Crypto app? What is the difference between the Trailing Stop Market and Trailing Stop Limit orders? Trading strategy 2: Exiting Long position with a Trailing Sell Trading strategy 1: Entering Long position with a Trailing Buy By mastering trailing stop orders you will become a much better crypto trader – and your P&L will thank you! Trailing Stop orders are regarded as one of the best crypto trading tools and rightfully so.
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