Trailing Stop configuration:
Main Menu > Bot Configuration > Trading > client name > Trailing > Stop
The goal of the trailing stop is help you secure and lock-in profits made in trades managed by the Cornix trading bot. The trailing stop is a great tool when used correctly so you should try to familiarize yourself with all 5 different trailing stop types our bot offers.
The difference between trailing take-profit/entry and the trailing stop and that the two former trailing types are activated on the order that is reached only, while the trailing stop is activated on the rest of the amount that is left in the trade.
The following are the different trailing stop types:
This trailing stop type will move your stop to the average entry price once the first take-profit target is reached.
When using this type of trailing stop, the bot will move your stop to the price of the previous take-profit target, the one before the new take-profit target that is reached.
More specifically, when the first target-profit is reached the stop will be moved to the breakeven price, when the seconds take-profit target is reached the stop will be moved to the first take-profit target price and so on.
This type of trailing stop is similar to Moving Target, but in this case the bot will move your stop price according to 2 targets back instead of one back.
More specifically, when the first target-profit is reached the stop won't move, when the second take-profit target is reached the stop will be moved to the breakeven price and when the third take-profit target is reached the stop will be moved to the first take-profit target price and so on.
Percent Below Triggers
Using this trailing stop, the bot will move the stop to the specified percent below the take-profit target that is reached.
Percent Below Highest
In this case, when the first take-profit is reached a trailing stop will be created the specified percentage below the target price, and will keep trailing that same percentage below the maximum price that is reached.
* You can select to disable the trailing stop by clicking the Without option, or alternatively select one of the different trailing stop types to set them as your default trailing stop.