Binance is the world’s largest cryptocurrency exchange with a market capitalization of $1.3 billion back in 2018. Trading effectively on Binance is vital to any successful crypto investment strategy. Luckily, Craft-Crypto Pro has the tools you need to get ahead.
Here are 5 powerful ways to earn more with your trades.
Table of Contents
Trailing Stop Loss Orders – Locking in Profit in a Volatile Market
Trailing stops (or trailing take profit orders) help with risk management by locking in profit and limiting loss. They work by setting a trail percentage that lags behind the price, but ratchets up with price. When the price rises, the trail also rises, but when price falls, the trail stays the same. When the price meets the trail, Craft-Crypto Pro executes a sell.
For instance, you want to set a trailing stop loss at $10,000 with a 2% trail. When the price reaches $10,000, a trail is set for $9,800. As the price rises to $10,500, the trail rises to $10,290 resulting in more profit over a normal sell at $10,000.
Trailing strops can be a strong choice for Altcoin trading, especially those prone to pump and dumps. The trail can be set to activate outside of normal variation of the price action. Then a pump would raise the trail price and execute the sell as the price retraces. This can result in gains with little work or monitoring involved.
Additionally, combining a trailing stop loss with a traditional stop loss can be a winning strategy, but more on this below.
Trailing Buy Orders – Buying Cryptocurrency at a Discount
Trailing buy orders function the same as trailing stops, but in reverse. As the price decreases, the trail also decreases, and when the price increases, the trail stays the same.
Trailing buy orders can be incredibly useful for hodlers trying to buy cryptocurrencies at a discount. Imagine that every month you want to invest $100 into Bitcoin. However, you also want to get the best price, but without constantly analyzing charts for a good support level. You can buy a stable coin (USDT, BUSD, etc) and then set a trailing buy. As the price falls, you lock in discounted buys and accrue more Bitcoin.
Just like trailing stops, trailing buys can also be combined with stop buys for even more power. But again, more on this later.
Loops – Buys and Selling at Support and Resistance Levels
Further, Craft-Crypto Pro supports the use of multiple loops per crypto trading pair. This way if you have identified multiple levels of support and resistance, you can have multiple Loops.
Multiple Exits and Entries - Complete Trading Strategy Implementation
In addition to trailing orders and Loops, Craft-Crypto Pro includes normal buy and sell orders as well as stop losses and stop buys. A stop loss is an order that executes a sell once the price drops under a value, and a stop buy is an order that executes a buy once the price rises above a level. All these trades can be combined to implement any trading strategy you desire.
Combining Trails and Stops
As mentioned above, combining a trailing stop and a stop loss can be a powerful way to execute a sell. Using a trailing stop with a sizable trail could lead to a bigger loss if the market behaves differently than you predict. A stop loss is an effective way to cut down on the initial risk.
For example, you want to start a trailing stop for Bitcoin at 10,000 USDT with a 5% trail, but if the price drops below 9,800, you want to get out of your position. To make a trade like this, you can set both a Trailing Stop and a Stop loss at 9,800 USDT. This nets you all the advantages of a trailing stop and all the safety of a stop loss.
The same can be done if you are looking to buy low but want to catch any bull runs. Simply combine a trailing buy and a buy stop, and you have the same situation, but in reverse.
Laddering In and Out of a Position
The other classic example of multiple entry and exit trades is to use a laddering strategy. This is several smaller buy orders at decreasing prices combined with smaller sell orders at rising prices. For example, you could have a buy at 9800, 9700, and 9600, and then sells at 9900, 10000, 11000. Craft-Crypto Pro does not limit your number of orders.
This can be enhanced with follow up orders. Follow up orders are orders that are only triggered after the main order is resolved. Buys can be made with follow up exits and sells can be made with follow up entries.
To revisit the laddering example with follow up orders, you can create a buy at 9800 with a follow up sell at 9900, a buy at 9700woth a follow up sell at 9800, and so on and so forth.
For example, you want to start a trailing stop for Bitcoin at 10,000 USDT with a 5% trail, but if the price drops below 9,800, you want to get out of your position. To make a trade like this, you can set both a Trailing Stop and a Stop loss at 9,800 USDT. This nets you all the advantages of a trailing stop and all the safety of a stop loss.
Conditional Exits for Binance
Naturally, follow up orders are not limited to only normal buys and sell. You can use trailing orders and stops as well. Suppose that your comprehensive analysis of a chart indicates a great entry at 9,000 and an probable exit at 10,000. However, if the price drops below 8,800, then you need to get out of your position. You also want to ensure that you capture profit on the rise from 9,000 to 10,000 as you are not entirely sure what will happen.
You can fully create this order in Craft-Crypto Pro. Create a buy order, and then a follow you stop loss, follow up trailing stop, and follow up sell.
Non-Locking Orders for Multiple Trading Pair Strategies
A subtle but powerful feature of Craft-Crypto Pro is that it works with market orders. This means that you are not limited in the number of trades you enter, the value of the trades, or the trading pair of the trades. If the trade you entered is larger than then your balance, Craft-Crypto Pro will trade with what is available. Essentially, your crypto is unlocked to trade in any creative way you can imagine.
This also enables you to implement strategies in parallel across multiple trading pairs. To illustrate, say that you own Bitcoin and have found great trading opportunities for NEO, ETH, BNB, and USDT. You can set trades for all 4 trading pairs, and the first to come to fruition is the first Craft-Crypto Pro will execute.
Another example is if you have a bag of stable coin and are looking to buy a dip. You can set trailing buys on all your favorite coins and wait for the market to choose for you. Whichever fulfills the trail first, Craft-Crypto Pro will buy.
As you can see, this feature empowers you to implement your strategies across multiple coins at once to get the best deals on the market.
Summary
Craft-Crypto Pro gives you the tools you need to get ahead. Trailing stops loss orders, multiple entry and exit conditions to your trades, non locking orders and the ability to execute many strategies across trading pairs in parallel. Not matter your trading method, strategy, or style, you can make it possible with Craft-Crypto Pro.
Before You Go
Craft-Crypto is always trying to improve and currently developing Craft-Crypto Pro 2.0! We have big plans for the future and are working as hard as we can to make them come true. To help us help you, we are giving free copies of our All Access pass to Craft-Crypto Pro to anyone who wants to help us test and create for the future.
If this sounds interesting to you, please visit our Telegram group to get you discount code and join our small but growing testing community!
Cheers!
An additional Note
Trading involves the risk of loss. We are not responsible for any losses or gains made by our software, or made from any of our advice or articles.