Reversal version of Trailing Take Profit for dropping coins. It used to buy coins at the best possible rate.
Important: available only for Bitfinex and Binance.
To activate it the checkbox "Trailing Buy" should be selected when creating a SmartTrade. Also, the deviation percent should be set.
Imagine that ETH is going down. John has $500 and wants to buy ETH at the best possible price. The current ETH rate is $430, John places a Trailing Buy order at $400 and sets the price deviation to 10%. Trailing Buy actions are described in the following table.
|№||Price for 1 ETH||Buy condition||Trailing Buy state|
|3||$400||$440||Trailing Buy activated|
|4||$415||$440||Trailing Buy activated|
|5||$390||$429||Trailing Buy activated|
|6||$375||$412.5||Trailing Buy activated|
|7||$389||$412.5||Trailing Buy activated|
|8||$354||$389.4||Trailing Buy activated|
|9||$350||$385||Trailing Buy activated|
|10||$380||$385||Trailing Buy activated|
|11||$375||$385||Trailing Buy activated|
|12||$386||$385||ETH was bought at the market rate ~$385|
John has purchased ETH for $385 instead of initial $400. It's 4% lower due to Trailing Buy.
For better understanding, the following example with an animated demonstration can be checked.