Trailing Take Profit
Trailing Take Profit (TTP) allows a trader to progressively sell his assets for profits as the price appreciates. Similar to CryptoHero's Trailing Stoploss, a user can set the following TTPs:
- Fixed TTP
- Variable TTP
Fixed TTP allows a trader to exit a fixed percentage of the coins bought by the bot for every fixed increase in the price level.
For example, if the Buy price is 100 USDT and the Quantity of Coin purchased = 100, the following table will illustrate exactly how much coins will be sold.
Fixed TTP Settings: Sell 1% of asset at every 2% above Buy Price
Variable TTP allows a trader to exit a percentage of the coins whenever a price level is hit. The intervals between the price levels are not the same. It is important for the trader to ensure that the total percentages for all the asset allocations to be equal to 100%.
(Total Sell Percentages = 100%. Variable TTP is correctly configured)
If the exit percentage is not equal to 100%, the bot will never exit since there are remaining coins that are not sold.
TTP allows a trader to run a dynamic yo-yo strategy. If a bot has activated TTP and encounters an entry condition again, an extra order (if set by the user) will be executed by the bot.
This interplay of buy-sell-buy-sell allows a user to run a longer strategy profitably, as long as the price appreciates in the long run.
When a new extra order is executed, the average buy price will be refresh based on previous buy/sell orders.
A deal is considered complete only when the bot has sold all the coins bought.