Can you explain to me the take profit option in grid trading?

Let’s say i want to trade Bitcoin between 30k and 40k.

If i set no take profit option, then the bot will sell all my BTC at 40k correct? And it will stop trading over 40k.

And when the price goes back down to 40k it will slowly buy back BTC

And resume trading normally

Answer

Taking profit with grid trading is basically the price at which you want to exit the trade. so if your take profit is 40k you are basically exiting the trade. the bot will close. If however you dont close your trade and prices return to the range pionex grid trading bot would continue buying and selling

Leave a Reply