What are the best trailing stop strategies for cryptocurrency trading on eTrade?

1 answers

• Ahmed AbdoJul 31, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, offers a variety of trailing stop strategies for cryptocurrency trading on eTrade. One popular strategy is the percentage trailing stop, where you set a specific percentage below the market price. This allows you to capture profits as the price rises, while also protecting yourself from significant losses. Another strategy is the dollar amount trailing stop, where you set a fixed dollar amount below the market price. This strategy is useful if you have a specific profit target in mind. Additionally, BYDFi provides advanced order types, such as trailing stop limit orders, which allow you to set a limit on the maximum price at which your order will be executed. These strategies can help you effectively manage your risk and maximize your profits in cryptocurrency trading on eTrade.
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