Trailing take profit

Trailing take profit tutorial

What is it?

There are two different configurations within this feature, trailing stop loss and take profit.

The first one, trailing stop-loss order, or simply trailing stop, refers to the technique of shifting the stop order of the trade as the market price goes up thus securing a profit margin while staying in the game holding the coin asset to potentially make higher profits in a bull market. Therefore the stop-loss price is not set at a single, absolute dollar amount, but instead a certain percentage below the market price.  

In a nutshell, a trailing stop-loss order should be regarded as the safety net of your profits. It allows the trader to stay in the game holding a coin asset while protecting the profit margin if the price drops to keep attempting to move.

The second, Take Profit, refers to the technique of selling a fraction of your balance whenever a target is hit.

When to use it?

The trailing stop-loss is particularly interesting to be applied in altcoin seasons when altcoins are on a bull trend and signal providers are publishing multi-target signals.

And Take Profit is convenient to guarantee a small profit for each target reached.

How does Anny operate the Trailing Take Profit?

Anny’s trailing take profit feature works on multi-target signals. Anny will shift a stop-loss order to a higher point each time a target is met to secure profits while you attempt higher target levels.

At this point, you may also choose to sell a fraction of your balance each time a target is met.

Do the Trailing Take Profit and the Take Profit work together?

The Trailing Take Profit technique works in conjunction with the Take Profit but this takes precedence over the other.

Example 1: If you have Trailing Take Profit on and the Take Profit set for target 3, Trailing Take Profit will be effective on targets 1 and 2, when hitting target 3 the Take Profit will execute 100% of your balance.

Example 2: If you have Trailing Take Profit on and Take Profit set at 5% profit, Trailing Take Profit will be effective only until the desired profit is reached. When the target profit reaches the Take Profit will execute 100% of your balance. 

How can I set it up?

On Anny, go to the "Dashboard" tab, click "Signal groups", find the Signal provider group and click on Automation -> select the Trailing Take Profit -> configure.

Decide what you want to configure Trailing Stop or the Take Profit.

What are my options?

Trailing Stop

Take Profit

Trailing Stop

1. Triggering event
   • Target hit or Profit Percent
     To know how the percentage trailing works, click here.
     
2. Start at target: select from which target or profit amount the trailing stop-loss order should start to move.
   • Target 1, 2 or 3 or percent amount
3. Interval: select the interval that the trailing stop-loss order should be shifted.
   For example: start at target 1, and move the stop order every 2 targets.
   • Target 1, 2 or 3 or percent amount
4. Distance: use targets or a percent amount to determine the distance in which the stop order should be in relation to the trigger point.
   For example: start at target 1, move the stop order every 2 targets, and position the stop order 1 target below the current price. That means Anny will raise the stop order to the entry price when it hits target 1 and then to target 2 when it hits target 3. Anything will be done when it hits target 2 as the interval is 2 targets.
   • 1 target below
   • 1.5 targets below
   • 2 targets below
   • 2.5 targets below
   • 3 targets below
   • Percent amount
5. Margin: adding a margin between the stop price and the exit price will increase the chances that your order will execute. Your selected margin will be used to calculate the limit price of the stop order.
   For exemple: * Signal Stop Price: 0.00001234 / Margin: 0.5%
   Stop price = 0.00001234
   Limit price = 0.00001128 (0.5% de 0.00001234)

Take Profit

This is the option to sell a fraction of your balance at every target met.

It's not possible to split the balance for the Trailing Take Profit when the amount is too low (that is, one of the parts is less than the minimum accepted by Binance), hence Anny preserves the entire amount and raises the stop.

For example:
Buy 0.15 XMR, 50% of 0.15 XMR it's less than 10USDT, which is below the minimum. (If you try to buy 0.7 XMR directly from Binance it will be clear that you can't).

1. Basis of calculation: the basis of calculation considers 2 options
   • Balance leftover: the remaining balance will be used in order to calculate the take profit amount. For example, the sum of all entries on a given signal resulted in 100 coin balance. The take profit was configured to sell 50% at each target. At target 1 the take profit amount will 50 coins (50% over 100, the remaining balance) and on target 2 the take profit will be of 25 coins (50% over 50, the remaining balance).
   • Total balance: the accumulated balance overall entries on the signal will be used. For example, the sum of all entries on a given signal resulted in 100 coin balance. The take profit was configured to sell 50% at each target. At target 1 the take profit amount will be 50 coins (50% over 100, the total balance) and on target 2 the take profit will be 50 coins (50% over 100, the total balance).
2. Order type
   • Market or Limit
3. Configuration: select the fraction amount for each target

Here are the pros and cons of Trailing Take Profit:

• PRO: you secure some profit by selling part of your balance and stay in the game climbing up the target ladder with the rest of your balance. This strategy is particularly effective when the price starts climbing from the entry range to target 1, there's usually a high probability that the price will drop to the entry range before attempting to climb to target 2.
• CON: you will compromise your profitability, especially if the signal reaches its full potential.

Keep reading:

How does the percentage trailing works?

Youtube video: Learn how the trailing take profit works and how to set it up