What is the best trailing stop percentage for trading cryptocurrencies?

3 answers

• Nov 24, 2021 · 3 years ago
  The best trailing stop percentage for trading cryptocurrencies depends on various factors such as market volatility, risk tolerance, and trading strategy. Some traders prefer a conservative approach and set their trailing stop percentage at around 5-10%, while others may opt for a more aggressive approach with a higher percentage, such as 15-20%. It is important to consider your own risk appetite and conduct thorough research before deciding on the best trailing stop percentage for your cryptocurrency trades.
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• Nov 24, 2021 · 3 years ago
  In my experience, there is no one-size-fits-all answer to this question. The best trailing stop percentage for trading cryptocurrencies can vary depending on the specific coin, market conditions, and individual trading goals. It's important to experiment with different percentages and monitor the performance of your trades to find the optimal trailing stop percentage that works for you. Remember, trading cryptocurrencies involves risks, so it's always wise to use stop-loss orders and implement risk management strategies to protect your investments.
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• Nov 24, 2021 · 3 years ago
  At BYDFi, we recommend using a trailing stop percentage of 10-15% for trading cryptocurrencies. This allows for a reasonable level of protection against sudden market downturns while still allowing for potential profit-taking during upward trends. However, it's important to note that the best trailing stop percentage may vary depending on individual trading preferences and risk tolerance. It's always a good idea to backtest different trailing stop percentages and adjust your strategy accordingly to find what works best for you.
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