How should take-profit and stop-loss be set for contracts?
With a trailing stop, the trigger price moves in a favorable direction as the price moves. It is triggered only when the price pulls back by more than the preset amount.
A stop-limit order places a limit order once triggered. The execution price won't be worse than the limit price you set, but if the price moves beyond that limit, the order may not be filled at all.
The most important thing to remember when managing your funds: once you've set a stop-loss, don't move it farther away just because it's about to be triggered. Doing so often turns a small loss into a big one.
$BTC 75823.67 (-0.3%)
With a trailing stop, the trigger price moves in a favorable direction as the price moves. It is triggered only when the price pulls back by more than the preset amount.
A stop-limit order places a limit order once triggered. The execution price won't be worse than the limit price you set, but if the price moves beyond that limit, the order may not be filled at all.
The most important thing to remember when managing your funds: once you've set a stop-loss, don't move it farther away just because it's about to be triggered. Doing so often turns a small loss into a big one.
$BTC 75823.67 (-0.3%)
