Trailing Take Profit (TTP) is a dynamically changing order created to catch the rise and maximize profit as much as possible. TTP is designed to increase your profit by enabling a trade to remain open as long as the price is moving in your desired direction. The order is executed if the price hits the trailing profit level.
How to activate Trailing Take Profit?
The TTP feature is available only for spot trading and it can be accessed on the Trading page. To create an order with TTP, head to the trading widget and select the type of order you need.
Step 1: Filling initial order’s parameters:
Select the order type (Limit, Market, or Stop)
Select the side (Buy or Sell)
Set up your order type (for more information, please refer to the corresponding article)
Step 2: Adjusting TTP settings
Activate the Trailing Take Profit option
Enter the Target price. This is where the TTP should be placed initially and executed if the price falls or raises to that level
Enter the Trigger price. This is when the TTP should become active, the price should hit this level to place the TTP at the price specified in the Target price field
Specify the Trailing step. Enter the price step percentage (%) to define how often the TTP should be moved to follow the price. As an example, trailing step 0.5% means that the TTP will be moved each time the price moves by 0.5%
Optional: Activate any extra features such as Take Profit, Stop Loss, etc.
When you are ready, click on the confirmation button to create your Smart order.
❗ Please note: when choosing the Buy order, it will trail upwards. If selecting the Sell side, the order will trail downwards.
View and manage your open orders with Trailing Take Profit
Once you place a Smart order, it will be converted to an SL/TP type in the Open orders tab. From there, you will be able to modify SL and TP levels. To do so, click on the pencil (edit) icon.
Enable, disable, or adjust TP and/or SL. Once all the changes have been made, click Save.
When the order is filled, you will receive a notification on the platform about successful order execution. The order will be moved from the Open orders tab to Positions.
You may check your notifications on the Portfolio page or by clicking on the Bell icon located next to your profile icon.
Specifications of orders with Trailing Take Profit
The trailing step cannot be lower than 0.2% and higher than 200%. If it's set at 5%, the trailing will trigger every 5% and move the open order by 5% down or up from the previous position.
💡 Tip: If you do not want to miss a single move, then you can set it up to a minimum of 0.2% - this will increase the frequency when the trailing should move the order.
Before TTP gets triggered, your Target Price (the price of execution) will be grey.
Once the price hits the Trigger Price, your Target Price will become green (activated) and the Trigger Price level will be removed from the chart.
When the Trailing Take Profit can be used
We would like to highlight the two most important use cases where the TTP feature becomes handy.
Combining Take Profit with Trailing Take Profit
The 1st use for the TTP is adding it to your Smart order, which will sell your position in portions, distribute the amount between your Take Profit and leave some coins for maximizing gains using TTP.
With TTP coins will be sold at the best possible price by following the price upwards or downwards (depending on the chosen side). In the example below, we sell a fixed amount of coins at the specified prices and then leave the leftovers to accumulate profit as the price continues to increase. This will allow you to maximize the potential profit by allowing the trailing to move your take profit and then execute it when the price drawbacks.
In the past, many users were moving their Stop-Loss order manually, or changing its position and activating the trailing option. Now you are able to do both, set the trailing take profit and the trailing stop-loss.
Buy the dip, sell the tip
Adding TTP to your Trailing Stop-Market buy order can give you an advantage of better entry and exit prices. The Stop-Market with activated trailing will move the entry order as the price falls and executes when the trend reversal happens.
After that, the Trailing Take Profit will follow the price on the rise and execute the sell order when the drawback takes place. This setup allows you to purchase the coin at the best price possible when the rally begins and sell it at the top when the price starts to fall.
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