How does a trailing order work in the context of cryptocurrency trading?

1 answers

• Faisal Iqbal SajibMay 23, 2024 · a year ago
  At BYDFi, we offer trailing orders as part of our advanced trading features. Traders can easily set up trailing orders on our platform by specifying the trailing stop percentage or dollar amount. Our system will automatically adjust the order price as the market price moves, ensuring that traders can take advantage of price movements without constantly monitoring the market. Trailing orders can be a valuable tool in a trader's arsenal, allowing them to implement more sophisticated trading strategies and potentially increase their profits. However, it's important for traders to carefully consider their risk tolerance and market conditions before using trailing orders.
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