Using trailing stop loss can be a very handy tool.
Trailing stop loss adjust itself with the profit that is going up. When it falls at the percentage given, it will sell.
Imagine you've got a position with BTC. The BTC rises until it has made a profit of 10% percent. If you've set the trailing percentage on 3%, the BTC will be sold if it falls back to 7%. It's possible that the BTC rises to a profit of 15%, now the BTC will be sold when it falls back to 12%.
We recommend setting a high "percentage profit", because when a position hits "percentage profit", it will be sold automatically. Even if the trailing stop loss is on. Alternatively, you can turn on the ''Use trailing stop loss only'' function.
For more info: