Why do 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 to use Trailing Buy and Trailing Sell. It 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
Webot provides “Trailing Buy” and “Trailing Sell” bots. These two bots are 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 bottoms but are unsure whether the downtrend has ended, 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.
Example
Create a “Trailing Buy” bot and select the BTC/USDT trading pair. Assuming that the current price of BTC is 58985 USDT, the trigger price is 55000 USDT, the maximum rebound is 10%, and the purchase amount is 1000 USDT.
When the BTC price drops to 55000 USDT, the bot order is triggered. When the BTC price drops all the way to 40000 USDT and then rebounds to 44000 USDT (that is, the currency price rebounds by 10% from the bottom), the bot will immediately buy 1000 USDT at the market price of 44000 USDT.
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.
Example
Create a “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 1 BTC.
The bot order is triggered when the BTC price rises to 60000 USDT. When the BTC price rises all the way to 66000 USDT and then retreats to 59400 USDT (that is, the coin's price retreats by 10% from the high point), the bot will immediately sell the BTC at the market price of 59400 USDT.
How to Set Up a Trailing Buy/Sell Bot?
To get started, simply follow the tutorials and create your first Trailing Buy/Sell Bot today.
In APP：
Step 1: Open the Webot app and click on [Bot] - [Create], then select [Trailing Buy/Sell].
Step 2: Choose your desired cryptocurrency pair, then enter the [Trigger price], [Trailing Percent (%)], and [Buy/Sell quantity]. After that, click [Create] to proceed.
On WEB:
Step 1: Log in to your Webot account, click on [Trade] in the upper menu bar, and then select [Trading Bot].
Step 2: Click on [Bot] - [All], then select [Stop Limit].
Step 3: Choose your desired cryptocurrency pair, then enter the [Trigger price], [Trailing Percent (%)], and [Buy/Sell quantity]. After that, click [Create] to proceed.
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 (Trailing Buy): The planned amount of funds invested in this order.
Sell Quantity (Trailing Sell): Number of coins planned to be sold.