How does the trailing stop on quote feature work in cryptocurrency exchanges?

3 answers

• Mar 15, 2022 · 3 years ago
  Sure! The trailing stop on quote feature in cryptocurrency exchanges allows traders to set a stop price that follows the market price at a certain distance. When the market price reaches the stop price, a market order is triggered, helping traders lock in profits or limit losses. This feature is useful for traders who want to automate their trade management and take advantage of price movements without constantly monitoring the market.
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• Mar 15, 2022 · 3 years ago
  The trailing stop on quote feature is a powerful tool in cryptocurrency exchanges. It works by setting a stop price relative to the market price. If the market price moves in your favor, the stop price will adjust accordingly, allowing you to capture more profits. However, if the market price reverses, the stop price will remain unchanged, protecting your gains. This feature is particularly useful in volatile markets where prices can fluctuate rapidly.
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• Mar 15, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers the trailing stop on quote feature to its users. With this feature, traders can set a stop price that automatically adjusts based on the market price. When the market price reaches the stop price, a market order is executed. This feature helps traders protect their profits and limit their losses, providing a convenient and efficient way to manage trades. If you're looking for a reliable cryptocurrency exchange with advanced trading features, BYDFi is definitely worth considering.
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