Stop-Loss is an important tool for risk management when trading on cryptocurrency exchanges. RevenueBot offers several Stop-Loss mechanisms that help traders minimize losses and protect their investments. Let’s take a look at the main ones.
Stop-Loss Last Order Executed & % Price Change
This mechanism sets a condition for triggering Stop-Loss when the entire grid of safety orders is executed and the price continues to change by a specified percentage.
For the LONG algorithm: If the price decreases from the last order price in the grid by the required percentage, the take-profit order of the current cycle is canceled, and a market sell order is sent, fixing the loss. For the SHORT algorithm: If the price increases from the last order price in the grid by the required percentage, the take-profit order of the current cycle is canceled, and a market buy order is sent, fixing the loss.
Stop-Loss % Price Change
This mechanism sets a condition for triggering Stop-Loss when the price changes by a specified percentage from the first order price in the grid.
For the LONG algorithm: If the price decreases from the first order price in the grid by the required percentage, all active orders of the current cycle, including the take-profit order, are canceled, and a market sell order is sent, fixing the loss. For the SHORT algorithm: If the price increases from the first order price in the grid by the required percentage, all active orders of the current cycle, including the take-profit order, are canceled, and a market buy order is sent, fixing the loss.
Stop-Loss Stop Bot on Trigger
By default, after triggering Stop-Loss, the bot will not stop and will start a new cycle. If you want the bot to stop after triggering Stop-Loss, enable this filter.
Trigger Stop-Loss by Signal
This mechanism allows using a signal from the TradingView platform to trigger Stop-Loss. Upon receiving the signal, the bot will cancel all active orders of the cycle and send a closing market order to the exchange.
Stop-Loss by RevenueBot Indicators
Stop-Loss by RevenueBot indicators is a mechanism that automatically closes positions based on signals received from various indicators. This approach allows traders to more accurately manage their risks using data generated by the bot.
RevenueBot supports various indicators such as moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence/Divergence), and others. Traders can choose one or more indicators to set up Stop-Loss.
When the conditions set by the indicators are met, the bot automatically cancels all active orders of the current cycle and sends a market order to close the position.
Trigger Stop-Loss After N Minutes of Inactivity
This mechanism sets a condition for triggering Stop-Loss if the bot waits too long for the take-profit order to be executed. You can set the time in minutes after which the Stop-Loss mechanism will be initiated.
Using Stop-Loss in RevenueBot allows traders to effectively manage risks and protect their investments. Setting up various Stop-Loss mechanisms helps minimize losses and automate the trading process, which is especially important in the highly volatile cryptocurrency market.
