Trailing Stops for cryptocurrency trading are advanced order types. They act as dynamic Stop Loss / Take Profit actions. With Trailings, it’s enough to specify starting conditions, set orders, and relax – Superorder will handle everything else. Generally, cryptocurrency Trailing Stops follow the market trend and ensure the best profits when you want to sell or the lowest price when you want to buy.
Four definitive benefits of crypto Trailing Stop orders
Securing of profits
No limits for profits
Limits for losses
Trailing Stop Buy
This option works best when you want to get coins at the best rate. Thus, Trailing Stop Buys for cryptocurrency act as entry points.
Basics of Trailing Stop Buys
This Trailing Stop for cryptocurrency always follows the downtrend. When you want to catch the bottom, just put the order at the predefined distance and wait. Superorder will track prices and move the Stop Buy automatically. Once the price starts growing again, the terminal will execute this order.
Trailing Stop Loss
On the contrary, Trailing Stop Loss orders for crypto are perfect when you need to secure profits. They work nicely at the quick uptrends.
Basics of Trailing Stop Losses
The algorithm of a cryptocurrency Trailing Stop Loss is similar to the same for purchases. However, it’s focused on profits. If you want to get the highest return, open a Trailing Stop Loss slightly below than the actual price. Superorder will follow the uptrend and execute the order once rates start falling.