If you don’t buy low & sell high or take out your profits in time you are not making any money with cryptos. This is a time consuming job requiring a lot of patience but nowadays we can easily automate the whole process, by filling a simple form you can set the profits you want, these bots will trade cryptos till you get the profits by ensuring stop losses.
Another feature is smart sell & buy with trailing profit.
Trailing Take-Profit: Take this for example:
1. You open a position at a price, for example, $5. You set take-profit to $6. The TP condition itself means that when the price reaches $6, your position will close, and you will earn $1.
2. Trailing take-profit is needed to maximize profits, that is, if the value of the position increases, it won’t close it at a fixed price, but will raise the closing condition while the value goes up. If you bet Trailing TP to $7 (40% of the growth from the initial one), while the price goes up – $6 (20%), $7 (40%), $8 (60%) – the closing position changes and the take-profit grows.
3. At a time when the price goes down more than X% (which you choose in the settings), the position closes. If this happens, for example, at $9 dollars, you will additionally earn $3, thanks to trailing take -profit. To understand more about how the trailing take-profit feature works, check this official guide.
APIs can be used to connect with exchange. Better not to allow API for withdrawl permissions, so that money doesn’t get out of excahnge.