Are there any recommended settings for trailing stop in tradingview when trading cryptocurrencies?

3 answers

• Nov 23, 2021 · 3 years ago
  When it comes to setting up trailing stop orders in TradingView for trading cryptocurrencies, there are a few factors to consider. First, you need to determine the percentage or dollar amount at which you want your trailing stop to start. This will depend on your risk tolerance and trading strategy. Additionally, you should consider the trailing stop offset, which is the distance between the current price and the trailing stop price. A smaller offset may result in more frequent stop triggers, while a larger offset may allow for more price fluctuations. It's important to test different settings and find what works best for your trading style.
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• Nov 23, 2021 · 3 years ago
  Setting up trailing stop orders in TradingView for trading cryptocurrencies can be a personal preference. Some traders prefer a tighter trailing stop, while others opt for a wider stop to allow for more price fluctuations. It's important to consider your risk tolerance and trading strategy when deciding on the settings. Additionally, keep in mind that different cryptocurrencies may have different levels of volatility, so what works for one coin may not work for another. It's always a good idea to backtest different settings and see how they perform before implementing them in live trading.
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• Nov 23, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using a trailing stop offset of 1-3% when trading cryptocurrencies on TradingView. This allows for some price fluctuations while still protecting your profits. However, it's important to note that the optimal settings may vary depending on the specific cryptocurrency and market conditions. It's always a good idea to stay updated with the latest market trends and adjust your trailing stop settings accordingly.
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