How Do I Analyze Trailing Stop Loss Order?
Bitcoin Trade a Trailing StopLoss
A trailing stop loss is a stop loss levels that keeps adjusting itself automatically by a set number of pips once the btcusd trading market heads in the direction of the trader's open trade by a number of pips.
For example the trailing stop can be set at 30 pips and set to self-adjust itself to 30 pips automatically once the trading instrument shifts up by 5 or 10 pips. This means that this trailing stop loss crypto order will keep trailing the bitcoin price as long as the bitcoin crypto price keeps heading in direction of the online trader's open trade.
This trailing stoploss will close the order once the btcusd market starts to retrace and it retraces to the level of the most recently set trailing stop loss level.
A good indicator used to set trailing stop loss levels is the Parabolic SAR indicator:
Parabolic SAR Indicator
Parabolic SAR is used by the online traders to set trailing bitcoin price stop loss areas
Parabolic SAR provides good exit points which keep trailing the bitcoin price of a bitcoin crypto.
In an upwards btcusd crypto trend, you should close long positions when the bitcoin price drops below the parabolic SAR
In a downward bitcoin crypto trend, you should close short positions when the btcusd crypto price rises above the parabolic SAR Indicator.
If you're trading long then the price is above the Parabolic SAR, parabolic SAR will move up everyday, regardless of the direction in which the bitcoin crypto price is moving. The amount parabolic SAR indicator moves up depends on the amount that bitcoin prices moves. Once bitcoin price moves below the parabolic SAR like is shown on the example illustrated below, then traders should close open buy trades at the trailing stop level provided by the Parabolic SAR indicator.
Parabolic SAR - Technical Indicator for Setting Trailing StopLoss Bitcoin Order Areas
Analyze Bitcoin Trailing StopLoss Bitcoin Order
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