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How does Trailing Stop-Loss work?
How does Trailing Stop-Loss work?
Pete Darby avatar
Written by Pete Darby
Updated over a week ago

Trailing Stop-Loss is a powerful tool that helps you automate your selling process based on predefined parameters. Here's how it works and how to set it up:

  1. Enable Trailing Stop-Loss

    Go to the "Trailing Stop-Loss" settings in your Base config and toggle the switch to activate "Trailing Stop-Loss" in your trading bot.

  2. Trailing Stop-Loss Percentage

    Set the percentage at which you want the open position to drop before triggering the Trailing Stop-Loss. Once this percentage is reached, your trading bot will sell your open position.

  3. Arm Trailing Stop-Loss

    Specify the percentage of profit your open position needs to achieve before the Trailing Stop-Loss is activated and the open is getting tracked. This ensures that you cover any trading fees incurred.

    For example, if you set it to 1%, the Trailing Stop-Loss will be armed when the position hits a 1% profit. The trading bot will then sell the open position if it drops by the "Trailing Stop-Loss percentage".

  4. Use Trailing Stop-Loss Only:

    Enable this setting to exclusively use Trailing Stop-Loss for selling open positions. When enabled, the trading bot will not sell your open position when your Take profit, Sell based on strategy, or Short based on strategy signals a sell.

  5. Reset Stop-Loss After Failed Orders:

    Toggle this switch to reset the Trailing Stop-Loss setting after a canceled order. Orders may be canceled if they are not filled or remain open longer than configured.

  6. Only Sell with Profit:

    Activate this toggle to ensure that positions are sold only with a profit when the Trailing Stop-Loss is triggered. If the Trailing Stop-Loss would result in selling a position at a loss, the sell order will not be executed.

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