BrozBot uses trailing stop, but what’s trailing stop?

Neither a magic wand, nor a profit machine, trailing stop is simply a trading feature that helps us increase our profit and liquidate our position when the market moves against us.

With trailing stop, we don’t need to set our stop-loss or increase our take profit manually each time a market trend changes in our favour.

In another words, it is a type of feature that gets executed once the price no longer moves in our favour, whether we use a short or long strategy. This is designed to protect our gains while the trade is still open and continues to profit.

How BrozBot trailing stop works

In this scenario, when the price hits the Take Profit 2% a new Take Profit target will be set at 3% and a new Stop Loss will be set at 1%. This means we will no longer have a loss in this position, because in the worst case scenario, if the price start moving against us, when it hits 1% profit it will close.

Correspondingly, once we place 2% take profit and 1% trailing stop to a short strategy, the rule will work exactly the same, but in the opposite direction.

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