Available to Premium and Professional Users within Advanced Bot
Trailing Stoploss is an extremely useful feature for traders to capture profits as the market moves up. The stoploss price level goes up in tandem with the asset's price. So, if the price of an asset drops after appreciating, the dynamically increased stoploss level will be hit, thus capturing profits for the trader.
CryptoHero offers two types of Trailing Stoploss in addition to the Absolute Stoploss which is already offered in previous versions. The two types are:
- Fixed TSL
- Variable TSL
Fixed TSL moves up your stop loss level at regular preset interval.
(Fixed TSL option in Exit Condition tab)
Based on the example above, this means the stop loss level will be set at 1% below the current all time high price of the asset if the latter's price appreciates 2% above the Buy Price. For every 2% above the Buy Price, the stop loss level inches upwards to 1% below the latest price jump interval. The Fixed TSL is immediately set when the bot opens a deal.
Following the example above, the specific stop loss values are as follow:
As the name implies, Variable TSL gives utmost flexibility to the trader as to which price level should trigger a new trailing stoploss level.
(Variable TSL in Advanced Bot' Exit Condition tab)
From the image above, this bot has been configured for just one level for the trailing stoploss. If the price appreciates more than 2%, the trailing stoploss level will remain the same.
(Multiple Variable TSL levels)
For the image above, there are three TSL levels configured for the bot. The table below depicts the specific TSL price for each level.
Variable Trailing Stoploss allows you to have a combination of Absolute Stoploss and Trailing Stoploss. Simply set the first level as
Set [ absolute stoploss ] below current price when price hits [ 0% ] above Buy Price.