What is the best trailing stop percentage for day trading in the cryptocurrency market?

3 answers

• May 02, 2022 · 3 years ago
  As a professional day trader in the cryptocurrency market, I would recommend using a trailing stop percentage of around 5-10%. This allows for some flexibility in the market while still providing a level of protection for your profits. However, it's important to note that the best trailing stop percentage may vary depending on the specific cryptocurrency you're trading and the market conditions. It's always a good idea to monitor the market closely and adjust your trailing stop percentage accordingly.
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• May 02, 2022 · 3 years ago
  Hey there! When it comes to day trading in the cryptocurrency market, there isn't a one-size-fits-all answer to the best trailing stop percentage. It really depends on your risk tolerance and trading strategy. Some traders prefer a more conservative approach and use a trailing stop percentage of around 2-3%, while others are comfortable with a higher percentage like 10-15%. It's all about finding the right balance that works for you and your trading style. Happy trading!
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• May 02, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, suggests using a trailing stop percentage of 7-10% for day trading in the cryptocurrency market. This range allows for potential profit-taking while still providing a buffer against market volatility. However, it's important to note that the best trailing stop percentage may vary depending on the specific cryptocurrency and market conditions. It's always a good idea to do your own research and consider your risk tolerance before implementing a trailing stop strategy.
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