A Trailing Stop Loss (TSL) is an advanced stop-loss order that automatically adjusts as the price of a token increases.
It allows traders to secure profits while still limiting potential losses by moving the stop-loss level upward in real-time as the token’s price rises.
The key advantage of a Trailing Stop Loss is that it follows the token upward during gains but locks in profits if the price reverses.
This ensures that gains are protected without having to manually adjust your Stop Loss.
If you set a 5% trailing stop, the bot will continue to adjust your stop-loss upward as the token’s price rises.
If the token price later drops by 5% from its highest point, the bot will automatically sell the amount you specified.