Our Trailing features show why trading with a bot is so convenient. When your Hopper is "Trailing", it automatically follows the price and waits for an action to take when the time is right. Such actions could be adjusting your take profit when the price drops, placing a buy order when the price goes up, or buying back your position when it was in a short. We call these: Trailing Stop-Loss, Trailing Stop-Buy & Trailing Stop-Short.
The Trailing Stop-Loss is by far our most popular feature. It's a feature usable for almost every type of trader.
The Trailing Stop-Loss (TSL) automatically adjusts your stop-loss when the price goes up. Whenever the price goes down again, your TSL will fire and sell your position. This is an ideal way to follow an upwards trend and to prevent selling too early. Manual , semi-automatic, and full auto-traders all use this feature.
You can configure your Trailing-Stop loss in your base config, or you directly add it to your order in the Advanced View.
Two settings are essential with the TSL. The Trailing Stop-Loss percentage determines how much the price should drop before the TSL sells the position, and the Arm Trailing Stop-Loss determines when your TSL should start tracking the price. It can do that right at the start at 0.01% "profit", or only when a position reaches a percentage profit.
You can also configure if your Hopper should only use the TSL to sell positions (it will ignore the short/take profit), if it can only sell when a position is in a profit, or if it can try again when its sell order didn't fill. Click here for a more detailed explanation about TSL. You can use mulitple selling features at the same time, read more about it here.
When you buy, you never know if you've bought something for the bottom price. This is impossible to know, but it is possible to get help from a bot!
Use the Trailing Stop-Buy (TSB) to delay your buy and track the price. The TSB will keep monitoring the rate as a token goes down until it goes up again to reach a set percentage. When it goes up, it will initiate the buy order and voila! You can configure the TSB in your baseconfig. After that, your Hopper will always use your TSB when it gets a signal or when its strategy signals a buy.
You can also apply it to a manual order. Just go to the advanced view, and configure it when placing an order. The TSB has one important parameter, and it's the Trailing Buy Percentage. This determines how much the price must rise until the actual buy order is placed.
The Trailing Stop-Short (TSS) is almost the same as the TSB. To understand the TSS, it's essential to know that Shorting is different in Cryptohopper than traditional shorting.
Our shorting is like a buyback function. When you expect that the price of a position will go down and sell a position based on the settings, "always short instead of sell" or "open short based on strategy", you initiate the short. These funds will be reserved to buy back the same amount of the coin for less. The only difference is, the TSS will track how much the position is going down and how much "loss" you've saved! When you expect that you've reached the bottom, you stop the short. Your Hopper will repurchase the position, protecting yourself from a loss so that you can make a profit sooner.
The TSS will automate the part where your Hopper initiates the short, and when it buys back the position. You could use this as an alternative for a traditional stop-loss.
The TSS has a lot of settings, but two of them are crucial. First is the Arm trailing stop-short. This determines at how much loss the hopper starts trailing the short. Second is the Trailing stop-short percentage. This determines how much the price should go up again before the short is stopped and the position is bought back.
These features and its configurations are further explained in the other sections of the documentation