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Binance trailing stop order

Binance

Cryptocoins Exchanges / Binance 78 Views

I'm making an attempt to figure out how the trailing stop works on Binance. I need to set a trailing cease to be able to maximize my income. Let’s say my Activation worth is 10 with a Delta of 2%. The worth will increase to 20 after which starts to decrease, worth drops by 2% from 20 so I anticipate it to sell at 19,6 (2% lower than 20). As an alternative, Binance makes you enter a LIMIT. And the order can be executed at that LIMIT. What's the level of that? By executing at that LIMIT I miss out on income. How do I do know what LIMIT to enter? I imply the whole point of a trailing cease is to seize as much revenue as attainable and never just sell at a LIMIT. I don’t understand how far the worth will go up so how/why ought to I set a LIMIT. A standard trailing cease permits you to lock in income with no pre-set restrict, however on Binance it appears that evidently’s not the case. For example, I buy at 8 and set Activation worth at 10 with 2% Delta and a LIMIT of 8. If worth hits 20 after which goes down by 2% my order is bought at 8 which is the LIMIT worth.

submitted by /u/romacka
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