Developed later Grid Trading Bot, Trailing Bot (aka Trailing Take Profit - TTP) is Bot automatically lifts Stoploss application BitUniverse.
Unlike GTB, Traling Bot is a suitable Bot for the market Uptrend. With a perfect setup, you'll get it maximum profit.
Let's find out more about Trailing Bot - BitUniverse in today's article!
Trailing Bot is a Bot that automatically lifts the Stoploss of the BitUniverse application. Suitable for Uptrend market, fully pump. Don't worry about selling soon.
Mechanism of operation of Trailing Bot - BitUniverse
Unlike the Stop Limit order, you set a fixed price to cut losses.
Trailing Bot allows you to set a maximum percentage loss (a%).
Initially, the stop-loss price is the price that is lower than the price that you BUY: a%. After buying if the price goes up, the stop loss is increased accordingly.
Trailing Bot will always keep the StopLoss price below the highest price after running the bot a%.
For example: You buy Litecoin and run the Trailing bot: 10 LTC at $ 100.
Trailing Percent = 5%. -> Initial Stoploss price is $ 95.
TH1: If LTC falls to $ 95, the Bot will cut a loss: 10 LTC at $ 95 and close the Trailing Bot.
TH2: If the LTC Pump price is up to $ 140, the Stoploss is raised: $ 133 (140 * (100% - 5%)); then if the price from $ 140 drop to $ 133, the Trailing bot will sell 10 LTC at $ 133 and close the Trailing Bot order.
- Complete control of risk = a%.
- Catch the pump wave, don't be afraid to sell soon.
- Automatic: Take Profit even when brothers are sleeping.
How to use the Trailing Bot - BitUniverse
After adding your brokers account API to BitUniverse, you can use the Trailing Bot.
On the BitUniverse application, select Tab Trade -> Bot -> Trailing Bot.
For simplicity, here I will guide you to setup on the LTC / USDT trade pair.
There are 3 input setting parameters:
- Trailing percent: is the maximum loss% = a%. Stoploss price is always below the highest price a%.
- Quantity: The number of LTCs you want Trailing Bot to run.
- If you do not have LTC, select the item Have No LTC, if so, you choose I HAVE LTC.
In this case Have No LTC: You need to setup Buy Price - Purchase price on LTC. When Trailing Bot buys LTC, the bot will start running.
In this case I HAVE LTC: I need setup Trigger Price - is the starting price for Trailing. If the price is higher or equal to the Trigger Pricer then the Bot will start.
After setup is complete, click BUY AND TAKE PROFIT / TAKE PROFIT.
Useful articles for you: Instructions for Linking trading platform APIs with BitUniverse
Note When Using Trailing Bot - BitUniverse
- Choose the trade pair that you believe will Up
- Do not set up Trailing Percent too small as well as too large. Too small will easily drop stick and lead to holes or not catch long pump wave. Trailing Percent too large will also lead to difficult Take Profit.
- Trailing Bot is currently only supported on Binance and Huobi.
Based on technical analysis, predicting the pump wave and setting the appropriate trailing percent is the keypoint of the Trailing Bot.
Hope this article of his useful to you.
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