There isn’t any automated trailing Stop-Loss in Binance’s spot trading platform . So what we need to do is to configure the trailing manually and update it as the price goes up, and this guide will tell you exactly how. Locate the open orders on your PC from Orders -> Spot Order -> Open Orders.
Read moreHow do you activate trailing stop loss?
Here’s how it works. When the price increases, it drags the trailing stop along with it. Then when the price finally stops rising, the new stop-loss price remains at the level it was dragged to, thus automatically protecting an investor’s downside, while locking in profits as the price reaches new highs.
Read moreWhat is Binance trading bot?
This trading bot automates buying and selling on spot trading . It is designed to place orders in the market at preset intervals within a configured price range. Grid trading is when orders are placed above and below a set price, creating a grid of orders at incrementally increasing and decreasing prices.
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