How can I set a trailing limit order on a cryptocurrency exchange?

1 answers

• Uriel GranadosNov 06, 2024 · 10 months ago
  At BYDFi, setting a trailing limit order on a cryptocurrency exchange is a straightforward process. First, navigate to the trading interface and select the cryptocurrency pair you want to trade. Then, choose the order type as 'trailing limit order'. Enter the trailing amount and limit offset according to your trading strategy. The trailing amount determines the distance between the current market price and the sell order price, while the limit offset sets the percentage or price difference at which the sell order is triggered. Once you've entered these values, review your order details and submit the order. It's important to note that trailing limit orders are not available on all exchanges, so make sure to check if your chosen exchange supports this order type. Additionally, keep in mind that trailing limit orders are subject to market conditions and may not always execute at the desired price. Monitor your orders closely and make adjustments as needed to optimize your trading strategy.
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