What is Stop Loss?
Stop Loss is fixed point of trade. Suppose if you have kept a 5% stop loss on a token when the price is 100, the stop loss will trigger at 95.
What is Trail Stop Loss?
Trail Stop Loss is not a fixed point of trade. It keeps following the price up. Suppose if you have kept a 5% Trail stop on a token when the price is 100 and your target price is 150. Until the price reaches 150, the trail stop won’t come into picture. Now, consider these price movements:
It will only trigger at the last point. Here is why:
110->150- Here it gets activated.
160->140- Here, it won’t work because 140 is below original target point (150)
140->150 -It gets activated once again.
170->168 — It won’t work because 5% drop requirement is not met.
180->170 — Works here because 5% back trace requirement and above original target price condition (150) is met.
UniDexBot allows you to keep Stop Loss and Trail Stop Loss for each tokens in the pair separately:
If ORAI is more important for you, you should keep Trail stop and Stop Loss on WETH section and Trail Stop on ORAI, and vice versa. If both tokens are important, keep it on both.
An ideal trail stop should be 1/10th of volatility percentage. Or let’s just say it should just add a small percentage only to your Target volatility %.
Can you create both Stop Loss and Trail Stop? — Yes, you can. If you do not want to create one or both of those, leave it blank.
Article Credit: @BitCoinly
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