Set a Trailing Stoploss on Binance

Unlike a typical Stoploss which is static, a Trailing Stoploss will follow the price as it moves up and wait if the price moves down. Here's a simple guide to do this on Binance by using Signal.

Let's start with an example

1. You buy 1 ETH for $100.

2. You add a stoploss and activate the Trailing toggle.

3. You set the trailing stoploss price to -10% ($90).

This is how the Trailing Stoploss will follow the price:

No.	ETH price per 1 unit	Trailing Stoploss price
1.	$100	$90
2.	$102 (rise)	$91.80
3.	$105 (rise)	$94.50
4.	$101 (correction)	$94.50
5.	$105 (rise)	$94.50
6.	$108 (rise)	$97.20
7.	$112 (rise)	$100.80
8.	$108 (correction)	$100.80
9.	$100.80 (correction)	$100.80 (triggered)

The Trailing Stoploss helps you lock in gains by increasing with upward price movement and sell when the price starts dropping. This is useful in situations where you would like to be more hands off on a trade but still move your stoploss up.

How to use a Trailing Stoploss with Signal

1. Under the Stoploss tab, activate the Trailing toggle.

2. Set the distance at which the Stoploss should follow the price. You can do this by either manually entering the price or adjusting the profit slider.

3. Choose the amount you wish to sell if the Trailing Stoploss is hit.

4. Click Add Stoploss and you are done!