Trailing Take Profit Bot

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Why should I use a “Trailing Take Profit” Bot?

Have you ever got this situation: you just sold your asset, but the price keeps rising and rising after you sold? It’s time for you to learn how to use the TTP-Bot to avoid this kind of situation! Trailing Take Profit will help you to always sell close to the top of a pump, maximizing your profit!

How to use Trailing Take Profit bot on Pionex

Visit Pionex and select Trailing Take Profit from the list of trading tools. Pionex lets you choose one of 2 different types of TTP: “I Have COIN” and “I Don’t Have COIN”.

two different modes on Pionex App for trailing take profit bot
Two different modes for TTP Bot

If you “Don’t Have COIN”, you’ll need to input 3 parameters: Buy Price, Trailing Percent, and Buy Quantity. According to the Buy Price, the bot will place a limit order and start the trailing process after the order was executed. As long as the price doesn’t drop back as much as your Trailing Percent, the bot will hold your coin and not sell them, until the price finally drops for the Trailing Percent you set earlier. A market order will be placed immediately and lockup your profit, once that happens.

if you “Have COIN” you’ll also need to input 3 parameters: Trigger Price, Trailing Percent, and Sell Quantity. The trailing process will begin once the price hits the Trigger Price. As long as the price doesn’t drop back as much as your Trailing Percent, the bot will hold your coin and not sell them, until the price finally drops for the Trailing Percent you set earlier. A market order will be placed immediately and lockup your profit, once that happens.


Trailing Take Profit Example

You want to use “Trailing Take Profit” to sell 1 ETH for USDT: Choose “I Have ETH” and set 200 USDT as Trigger Price, 5% as Trailing Percent, and 1 ETH as Sell Quantity. The bot will start the trailing process once the price hits 200 USDT. While the price keeps rising, the bot will keep running, and monitor the price, but it won’t sell. Let’s say the price keeps rising, without ever falling back for more than 5% until it finally hits 300 USDT. Then suddenly the price drops back for more than 5% (285 USDT). A market order will be placed and sell your ETH at that price.