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Trailing Stop order sets a trigger that follows (trails) market price at a specified distance (Trailing Distance) when the price moves in the chosen direction but remains in place when the price moves in the opposite direction. If market price ‘touches’ the trigger, the underlying Market or Limit order is sent to the exchange.

Trailing Sell order follows market price as it goes up and triggers Sell order if/when the price falls from its peak by the amount set as the Trailing Distance.

Trailing Buy order follows market price as it goes down and triggers Buy order if/when the price rises from its low by the amount set as the Trailing Distance.

Trailing Stop orders are a great tool to open either a long or a short position at the exact moment the price trend reverses. This lets you enter at a better price by not going against the current price trend while also increasing the probability that the price will move in your favor after you enter the position.

Trailing Stops are also a perfect tool to exit your existing positions - Long or Short. They act as a Trailing Stop Loss and an open-ended Take Profit simultaneously - limiting your downside but letting your profitable trades run with the market, allowing you to capture larger profits and exit at the exact time the price trend starts to reverse.

Good Crypto app supports synthetic Trailing Stop orders on all the 25+ crypto exchanges in the app. Trade with Trailing Stop orders on any exchange: from Binance, Bittrex, Kraken, and Coinbase Pro to Indodax, Yobit, and Exmo!

PRO tip: Attach Take Profit and Stop Loss when entering a position with a Trailing Stop - you’d be amazed how powerful this trading setup is.

See detailed examples of how Trailing Stop orders perform under different market scenarios in our blog post.

Trailing Stop orders are, in fact, Trailing Stop Market orders. They behave exactly in the same way as Trailing Stop Limit until the trigger price is reached. After that, Trailing Stop order sends a Market order to the exchange, while Trailing Stop Limit places (you guessed it) a Limit order.

Trailing Stop (Market) order ensures that the order is filled immediately after it’s triggered. This order property is crucial when you use a Trailing order as a Stop Loss and/or Take Profit. However, if the price moves sharply, there is a risk that the order fills at a price that is higher/lower than the order trigger price.

Trailing Stop Limit order fixes the price at which the order will be filled. However, if the price moves sharply past the Limit price, there is a chance that your order won’t be filled and will ‘sit’ in the orderbook after it’s triggered.

Thus, the choice between the Trailing Stop (Market) and Trailing Stop Limit orders is a tradeoff between the certainty of order execution vs. the certainty of the execution price.

See detailed Trailing Stop Market vs. Trailing Stop Limit performance comparison in our blog post.

Trailing Start is the price level at which you want your Trailing Stop to be activated, i.e. to start trailing the market price. This field is optional. If you leave it blank your order will start trailing immediately after you send it.

Example:
if the current BTC price is $9,000 and you set Trailing Start at $10,000 your order will remain dormant until the market price rises to $10,000.
If you set Trailing Start at $8,000 the order will stay dormant until the market price falls to $8,000.
If you leave this field blank, the order will start trailing right away.

NB: Binance Futures only allows Trailing Start to be set at better-than-Market price

There are several use cases for the Trailing Start feature. Here are the two most common:

Use Case 1:

An instrument is trading within some range and you want your Trailing Stop to be placed when there is a breakout and/or a breakdown of the range. You set the Trailing Start to the top and/or down of the range you've identified.

Use Case 2:

You have an open order and you want your Trailing Stop to be placed after that order fills. You set the Trailing Start to the price level at which you expect your open order to be filled.

PRO TIP: you can also 'attach' a Trailing Stop on one exchange to an open order on another exchange

You can send Market, Limit, Stop Market, Stop Limit, Trailing Stop, and Trailing Stop Limit orders to all 25+ exchanges in the app, even if exchanges do not support them natively. You can also attach Take Profit and/or Stop Loss to any order of any type you send via Good Crypto.

Our proprietary Stop Market and Stop Limit orders do not freeze your balances until the Stop price is triggered, giving you the ability to use them as Stop Loss and/or Take Profit order on any of the 25+ exchanges, including Binance, Kraken, and Coinbase Pro.

Example: send a Limit order to buy Bitcoin at $10,000 and GC Stop Market order to sell Bitcoin at $9,980 at the same time. You’ve got yourself a Stop Loss - your losses are capped at $9,980. Add to it a GC Stop Limit to sell BTC at $10,500 that triggers at $10,000 – and you’ve added a Take Profit. You can even stack several Stop Limits at, say, $10,500, $11,000, and $11,500 to lock in even more upside!

You can trade with Stop Loss + Take Profit setup on any exchange - from Binance and Bittrex to Indodax and YoBit.

You can also attach Take Profit and/or Stop Loss to any order of any type that you send via Good Crypto. Attached Stop Loss and/or Take Profit will be placed automatically after you main order fills. 

You can attach a Stop Loss and/or Take Profit to any order sent via Good Crypto app to any crypto exchange we support: from Binance, Coinbase Pro, Bittrex, Kraken, and HitBTC to Huobi, OKEx, KuCoin, and a dozen more.

After your main order fills, we will automatically open your Stop Loss and/or Take Profit.

If you have attached both Stop Loss and Take Profit, once one of them fills the other will be canceled automatically.

Our Stop Loss and Take Profit orders do not freeze your exchange balances until triggered.

At the moment we support margin trading for derivatives exchanges (BitMEX, Binance Futures, Bybit). We’ll add margin trading for Spot exchanges in one of the upcoming releases. 

We do fully support trading derivatives contracts on Binance Futures, BitMEX, and Bybit. Support for other crypto derivatives exchanges is coming soon. 

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