How can I use trailing stop feature in tradingview to optimize my cryptocurrency trades?

3 answers

• RCVMay 22, 2023 · 2 years ago
  Sure! The trailing stop feature in tradingview allows you to set a stop loss level that automatically adjusts as the price of your cryptocurrency trade moves in your favor. This means that if the price goes up, the stop loss level will also move up, helping you lock in profits. However, if the price starts to decline, the stop loss level will remain at its current position, protecting your gains. It's a great tool to optimize your trades and protect your investments. Just make sure to set the trailing stop level at a suitable distance from the current price to avoid being stopped out too early.
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• Comtech SolutionsApr 20, 2023 · 2 years ago
  Using the trailing stop feature in tradingview is quite simple. First, open the tradingview platform and select the cryptocurrency you want to trade. Then, locate the 'Order' panel and find the 'Stop Loss' section. Enable the trailing stop option and set the desired percentage or dollar amount for the trailing stop. Once you've set the trailing stop, place your trade as usual. The trailing stop will automatically adjust as the price moves, helping you optimize your trades and protect your profits. It's a powerful tool that can greatly enhance your trading strategy.
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• Bjerring GambleDec 20, 2021 · 4 years ago
  As an expert in the field, I highly recommend using the trailing stop feature in tradingview to optimize your cryptocurrency trades. It's a valuable tool that can help you maximize your profits and minimize your losses. By setting a trailing stop, you can let your profits run while still protecting yourself from significant downturns. It's important to note that different exchanges may have slightly different implementations of the trailing stop feature, so make sure to familiarize yourself with the specific details of the tradingview platform you're using. Happy trading!
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