Bitsgap Bot Trailing Down Feature

The Bitsgap trading bot is a highly sought-after solution for a variety of cryptocurrency traders. With frequent updates and consistent improvements, the bot also continues to go above and beyond to meet the requirements of different types of traders.

Most recently, Bitsgap has introduced a new “Trailing Down” feature for its trading bot solutions. The feature puts a spin on the bot’s previous trading mechanisms and allows you to trade even when a market is trending downwards.

If you also use Bitsgap for your trading goals, you might be interested in learning how to use Bitsgap Trailing Down to your advantage. To help you through this process, here’s a lowdown on how to utilize this feature the right away.

🤔 What is Bitsgap Trailing Down Feature?

The Bitsgap Trailing Down feature is a part of the solution’s grid bots. Whenever you are launching any grid bots from your interface, you can move forward with activating the Trailing Down feature first.

Once the Trailing Down feature is activated, you can benefit from its specific ability of moving your bot’s grid downwards from preset parameters of lower price border. This lets you continue to trade your cryptocurrency pairs even after the market’s price drops below the initial lower price border. When the Trailing Down is at work, it opens new buy orders using your quote currency.

To simplify this mechanism, you can understand the contrast between grid bots that work with and without the trailing down feature. In conventional grid bots, there is a specific bar set for all markets by the name of the lower price border. Whenever the market price touches the lower price border, the border stops you from automatic trading. But in grid bots where the Trailing Down feature is enabled, you can continue to trade even when the market falls outside the initially-set price metrics.

This gives you a simple introduction on Trailing Down. But in order to learn how to use Bitsgap Trailing Down the right way, you need to understand how to use the feature in the first place. Fortunately, the execution is neither hard to follow nor difficult to pull off.

▶️ How to Activate Bitsgap Trailing Down?

By following the steps outlined below, you can bring the Trailing Down feature to life.

  • From Bitsgap’s main interface, find the Trailing Down option box on the right side of the screen. This is visible right away, which makes it easy for you to access it.
  • Activate Trailing Down by clicking on the switch that is right next to the feature name.
  • Once you activate Trailing Down, you will also have to enter a value in the Stop Trailing Down price condition. This tells the bot to stop trading at the outlined price condition even when Trailing Down is active. It acts as a safety barrier for the feature.
  • You can find and modify the Stop Trailing Down range anytime by going to bot options and changing the value within the respective field.
  • Keep an eye on the Max Balance In and Max Balance Out parameters. These outline how much quote currency can your Trailing Bot trade by utilizing your base currency.

After you have activated Trailing Down, you can move forward with seeing the feature in action. It is important to remember that the feature is only available for Bitsgap Sbot bots that are less than 3 months old. In case you don’t have any new bots that match this criteria, you can create a new one.

👍 What Are the Benefits of Trailing Down?

There are various benefits to learning how to use Bitsgap Trailing Down. These advantages include but are not limited to the following.

  • Advantages in Fluctuating Markets. The conventional trading bots utilize a safety-switch type of mechanism where all trading is automatically stopped whenever the price goes beyond the grid threshold. By using Trailing Down, you can surpass this threshold and benefit from fluctuating market movements.
  • No Missed Opportunities. The abrupt stop ot automatic trading after hitting a threshold can dampen your plans to continue making profits. This is especially true if you rely on your trading bots to execute trades in your absence. Trailing Down helps you overcome this obstacle.
  • Ability to Make Higher Profits. By making your way through sudden fluctuations and improving your trading volume, Bitsgap Trailing Down can also increase your chances to make higher profits in the right conditions.
  • Ideal Level of Automation. As a purpose-built strategy to prevent sudden halts in your trading, Trailing Down brings optimal automation to your usage of a trading bot. This helps you perform your trades without stretching yourself thin.

Since the Trailing Down feature comes with its own automatic stop-switch in the form of Stop Trailing Down price condition, these benefits make it a safe and reliable feature to incorporate within your trading strategy. With that being said, make sure that you are using the feature only after understanding its basic fundamentals to a T.

🟢 What Market Conditions Are Good For Trailing Down?

Trailing down works ideally in highly fluctuating markets, where you are able to continue making your trades despite an asset’s price moving beyond the preset grid. Once you learn how to use Bitsgap Trailing Down, you can easily make it work in your favor in such conditions.

This means that the Trailing Down feature is optimal for those who are trading assets in a rapidly moving market. If you belong to this segment, the feature can help you maximize your windows of opportunity and get the most out of your trading efforts.

But in case you are in a sideways market that does not fluctuate in its price movements that much, the trailing down feature might not be for you. With that being said, you can still activate it as long as you are cautious about the market conditions at hand.

👉 How to Use Trailing Down Right?

There are various actions you can take to use Trailing Down the right away. These include but are not limited to the following.

Use in Fluctuating Markets

As mentioned above, one of the first points about using the Trailing Down feature is to utilize it in fluctuating markets instead of sideways markets. This helps you jump past barriers that automatically come into the picture when the market goes beyond its preset borders.

Since this type of development does not take place in a sideways market, using the Trailing Down feature there may not provide you with significant action. Due to this reason, it is better to focus your efforts with Trailing Down in markets where it could actually obtain noticeable results.

Monitor Your Bot

After learning how to use Bitsgap Trailing Down, you have to be observant about your bot’s activities even when Trailing Down is working to optimal capacity. While it requires you to check your bot’s statistics every other day instead of every other week, the strategy pays off in the long run due to its overall efficacy.

This makes sure that you are able to see exactly what is happening with your funds, what type of profits can you expect, and what kind of tweaks you need to make against the Trailing Down feature.

Get an Analysis

Simply looking at your bot’s performance will not do anything on its own. You actually have to put that knowledge to work and make sure that you are performing a thorough analysis about what actions you need to take.

For instance, some situations may call for you to move the Stop Trailing Down price condition, while others may require you to pause the feature altogether. If you get a good grasp on these points of analysis and take the needed measures without any delay, you can get closer to generating profits through your trades.

By following these best practices, you are able to steer clear of potential losses and mitigate risks on an ongoing basis. This ensures that you are able to get the most out of the Trailing Down feature while also keeping yourself safe from any potential financial hazards.

These particular steps call for constant vigilance. But they are totally worth it due to the benefits of saving your money and maximizing your profits. That is why you should make it a habit of following these suggestions while you are using this bot feature from Bitsgap.

🔃 Should I Combine the Trailing Down With the Trailing Up Feature?

While learning how to use Bitsgap Trailing Down, you may find that Trailing Up is a similar feature that allows you to continue trading even when an asset’s price goes upwards beyond the grid. In conventional bots, price movements that surpass the grid cause the trading to stop. In Trailing Up, the feature prevents the bot from taking that action. Instead, the trading continues uninterrupted.

You may very well combine Trailing Down with Trailing Up. But you have to maintain an air of caution at all times. For the first few days of using these features in a fluctuating market, you have to move forward with regular monitoring at least once a day. Even when you don’t change anything, this gives you a clear picture of where this strategy is taking you on a daily basis.

As a result, you have the ability to make changes if you are seeing drastic losses or little to no profits on your strategy. While the former case of losses requires you to make immediate modifications to the strategy, the latter case of dormancy gives you a little time to wait and watch what happens with the strategy in question.

Afterward, you can tweak the strategy to get the most out of it while also steering clear of avoidable losses. Once you understand a certain market, its price movements, and its compatibility with the Trailing strategy, you can gradually bring down the frequency with which you monitor these results.  

📢 Conclusion

It is important to determine that while you can learn how to use Bitsgap Trailing Down and apply it to a Sbot bot on the Bitsgap platform, you need to be quite particular about how to use and monitor it. This ensures that you are able to stay away from massive risks. At the same time, it allows you to get significant benefits out of the strategy.

This is quite critical because it is all about asset management and growing your portfolio. You would not want to jeopardize the value that you have accrued in your portfolio by merely taking a few actions with the bot and not really paying close attention.

Remember that you worked hard for your money and you would not want to see it fly away because of a few decisions that you made in your life. The aspect of risk management is quite critical as you approach these new ventures in your life. The digital asset market in itself is quite volatile and it requires a certain level of appreciation, focus, determination, discipline, and overall skill.

Experts would suggest learning more each day so that you can benefit quite a bit from all of your actions.

Here are a few more tips that you should remember as you utilize this fantastic and amazing strategy.

You can also use the feature against any available cryptocurrency market. But once again, avoiding sideways markets and going after fluctuating markets lets you see the feature in action the most.

As an unforgettable rule, only use the Trailing Down feature or other new strategies with funds that you can afford to lose. While cryptocurrency trading provides you with various opportunities to grow, it also comes with the risk of losses. That is why you should always keep your crucial savings and livelihood away from crypto trades.

As long as you remember these points, you can see how Trailing Down helps you take your trading to the next level. For further improvements, you can also keep trying new features whenever you have the funds and time to invest in this medium.

Remember to have fun, learn, and have a great time as you approach these markets. The key point is to stay consistent and to focus on a couple of aspects so that you can continue to succeed, learn, and grow.

Not only personally but you can grow your portfolio as well while you increase your knowledge and learnings in this sector! It can seem tough at first as you adjust to the various concepts present within this area but you can certainly succeed and thrive if you have the right guides and use the right tools!