Why you need Trailing Buy and Trailing Sell
Have you ever had such an experience?
After you bought the coin, the price of the coin continued to fall, so you were very depressed and didn’t buy it when the price was lower; after you sold the coin, the price of the coin continued to rise, making you regret it?
Then you should learn how to use “Trailing Buy” and “Trailing Sell”.
“Trailing Buy” and “Trailing Sell” can help you buy as low as possible or sell as high as possible in a volatile market.
How to use Trailing Buy and Trailing Sell
Pionex provides “Trailing Buy” and “Trailing Sell” bots. These two bots are very suitable for buying bottoms and chasing prices in fluctuating market conditions. You can use the two bots together so you don’t need to watch the market yourself, you don’t have to worry that the price you buy is not low enough, and the price you sell is not high enough.
Trailing Buy
When you want to buy bottoms, but you are not sure whether the downtrend has ended, then you can use “Trailing Buy” to buy bottoms. You can control the bot through parameter settings. When the currency price drops to a certain low point and rebounds a certain percentage, buy it to achieve bottom hunting.
Creation Steps
First open the pionex APP, click the “Trade” button at the bottom of the page, then click the “Bot” button at the top of the page and select the currency you want to trade, then click the “Create a bot” button at the bottom right corner of the page to enter the bot selection page,we choose the “Trailing Buy” bot here.
Set parameters: Trigger price, Trailing percent (%) and Investment.
Trigger price: When the market price reaches the set trigger price, the order will be triggered and the order will be placed.
Trailing percent(%):When the price reaches a certain bottom and rebounds to a certain extent, the order will be executed to buy.
Investment: The planned amount of funds invested in this order.
Finally,confirm the amount of funds invested by the bot, and click “Create” at the bottom of the page to start the bot.
Trailing Buy Example
Create “Trailing Buy” bot and select the BTC/USDT trading pair. Assuming that the current price of BTC is 58985USDT, the trigger price is set to 55000USDT, the maximum rebound is set to 10%, and the purchase amount is 1000USDT.
When the BTC price drops to 55000USDT, the bot order is triggered. When the BTC price drops all the way to 40000USDT and then rebounds to 44000USDT (that is, the currency price rebounds by 10% from the bottom), the bot will immediately buy 1000USDT at the market price of 44000USDT.
Trailing Sell
When the market is hot and you want to participate in the rise of the coin price to gain profits, but you are unable to keep an eye on the market at all times, and you are worried that the coin price will fall more and cause losses, you can use the “Trailing Sell” bot to chase the increase.You can control the bot through the bot’s parameter settings. When the price rises to a certain high and drops a certain percentage, the bot will sell all the tokens it holds for profit.
Creation Steps
First open the pionex APP, click the “Trade” button at the bottom of the page, then click the “Bot” button at the top of the page and select the currency you want to trade, then click the “Create a bot” button at the bottom right corner of the page to enter the bot selection page,we choose the “Trailing Sell” bot here.
Set parameters: Trigger price, Trailing percent (%) and Sell quantity.
- Trigger price: When the market price reaches the set trigger price, the order will be triggered and the order will be placed.
- Trailing percent(%): When the price reaches a certain bottom and rebounds to a certain extent, the order will be executed to buy.
- Sell quantity: Number of coins planned to be sold.
Finally, confirm the number of coins you plan to sell in the bot, and click “Create” at the bottom of the page to start the bot.
Trailing Sell Example
Create “Trailing Sell” bot and select the BTC/USDT trading pair. Assuming that the price of BTC is 58985 USDT, the trigger price is set to 60000 USDT, the maximum drawdown ratio is set to 10%, and the quantity sold is 1BTC.
When the BTC price rises to 60000 USDT, the bot order is triggered. When the BTC price rises all the way to 66000 USDT and then retreats to 59400 USDT (that is, the coins price retreats by 10% from the high point), the bot will immediately sell the BTC at the market price of 59400 USDT.
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