What are the best strategies for using TradingView trailing stop in cryptocurrency trading?

phpongoApr 22, 2022 · 3 years ago1 answers

I'm new to cryptocurrency trading and I've heard about the TradingView trailing stop feature. Can someone explain how it works and what are the best strategies for using it in cryptocurrency trading? I want to make sure I understand how to effectively use this tool to maximize my profits and minimize my losses.

Cryptocurrency

Trading

TradingView

1 answers

Apr 22, 2022 · 3 years ago
At BYDFi, we believe that the best strategy for using the TradingView trailing stop in cryptocurrency trading is to combine it with other technical analysis tools. This can help you identify trends, support and resistance levels, and other important factors that can affect the price of the cryptocurrency. By using the trailing stop in conjunction with other tools, you can increase the accuracy of your trading signals and make more informed decisions. It's also important to regularly review and adjust your trailing stop levels based on market conditions and your trading goals. Remember, trading cryptocurrency involves risks, and it's important to only invest what you can afford to lose. Always do your own research and consult with a financial advisor before making any investment decisions.