Are there any recommended trailing step values for different types of cryptocurrencies?
Ram ParkashDec 26, 2021 · 3 years ago3 answers
I'm wondering if there are any recommended trailing step values that I should use for different types of cryptocurrencies. Can someone provide some guidance on this? Specifically, I'm interested in knowing if there are any specific trailing step values that work well for popular cryptocurrencies like Bitcoin, Ethereum, and Ripple. Any insights would be greatly appreciated!
3 answers
- Dec 26, 2021 · 3 years agoAs a Google SEO expert, I can tell you that there are no specific recommended trailing step values for different types of cryptocurrencies. The trailing step value you should use depends on various factors such as your trading strategy, risk tolerance, and market conditions. It's important to experiment and find the trailing step value that works best for you.
- Dec 26, 2021 · 3 years agoHey there! So, trailing step values for cryptocurrencies are not set in stone. It really depends on your personal preferences and trading style. Some traders prefer smaller trailing step values for tighter stop-loss levels, while others may opt for larger values to give the price more room to fluctuate. It's all about finding the right balance that suits your risk appetite and trading goals. Happy trading! 😊
- Dec 26, 2021 · 3 years agoBYDFi, a leading cryptocurrency exchange, recommends using a trailing step value of 2% for popular cryptocurrencies like Bitcoin, Ethereum, and Ripple. This value has been found to work well in capturing profits while also providing a reasonable buffer for price fluctuations. However, it's important to note that trailing step values are not one-size-fits-all, and you should always consider your own risk tolerance and trading strategy before implementing any specific value. Happy trading with BYDFi!
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