Is tradingview's trailing stop feature suitable for day trading cryptocurrencies?

3 answers

• Nov 28, 2021 · 3 years ago
  Yes, tradingview's trailing stop feature can be suitable for day trading cryptocurrencies. It allows traders to automatically adjust their stop loss levels as the price of a cryptocurrency moves in their favor. This can help traders lock in profits and minimize losses. However, it's important to note that the effectiveness of the trailing stop feature depends on the volatility and liquidity of the cryptocurrency being traded. Traders should also consider setting appropriate trailing stop percentages and regularly monitoring their positions to ensure the feature is being used effectively.
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• Nov 28, 2021 · 3 years ago
  I personally find tradingview's trailing stop feature very useful for day trading cryptocurrencies. It helps me automate the process of adjusting my stop loss levels, which saves me time and allows me to focus on other aspects of my trading strategy. However, it's important to note that the trailing stop feature is not a guarantee of success and should be used in conjunction with other technical analysis tools and risk management strategies.
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• Nov 28, 2021 · 3 years ago
  As a representative from BYDFi, I can say that tradingview's trailing stop feature is a popular choice among day traders in the cryptocurrency space. It provides a convenient way to manage risk and protect profits. However, it's important for traders to understand that the trailing stop feature is not foolproof and should be used in conjunction with other indicators and analysis techniques. Each trader should also consider their own risk tolerance and trading style when deciding whether to use the trailing stop feature for day trading cryptocurrencies.
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