Trace Sell is one of actions for you to choose when you add a new selling rule.
Trace Sell can also be automatically created for your once a buy rule is filled and you have selected "Whether to automatically create trace_sell selling rule after completed?" as "yes" for the buy rule.
Trace Sell can stop your losses, and protect your profits. System has prepared default parameters for crypto market in Settings->Trading. You can change them as you wish.
Every single Trace Sell rule has it's own parameters to overwrite global settings.
Let us show you an example to demonstrate how it works.
Let say you have "ADA" position, and the cost price is 0.00002 BTC(system will caculate cost price for you.) And you want to reduce your position when you get 5% loss, and sell them all if you get 10% loss.
And you also want to increase the stop price when price rises, eg. when price rises 5%, you want to raise stop price to your cost price, so that you can break even at least. And when price rises more, you want to keep 50% of "more part"(highest - cost_price * 1.05) as profit, so that you will make sure that your profits being protected grows as price rises. If you want to reduce position to keep 60% of your profits, and stop to keep 50% of your profits, it can also be done by this type of rule.
Let us show you how to create a rule for this. Parameters for a new sell rule:
"Cash Symbol": "BTC"
"Action": "Trace Sell"
"Since": "-10d" Please refer to Terms.
"Peak Since": "now" Please refer to Terms. "now" means we ignore prices before and caculate highest/lowest price from now. If there is a very low price yesterday enough to trigger the stop action, "now" makes sure that system ignore that price, and system assumes that you bought it just now, but the cost price is caculated by "Since". If you want to manually set the "cost price", you can also change "Since" to "now", then system will not get any trades history, because all your trades happened before.
"Cost Price": leave it as empty unless there are no trades since "Since", or it will be overwritten by system.
"Fix Stop Price in Cash Symbol": "0.000019". It's the price that system stop sell all your positions(or "Percentage of balance to sell when stopped"). This price has the highest priority, which is also the bottom line that you can afford to lose.
"Reduce when price falls to how much percentage of cost price? ":"0.95". If falls to 95% of your cost price, system makes stop-reduce action. This will overwrite "FPTR" in Settings->Trading for this rule. Leave empty to use "FPTR".
"Reduce percentage of balance":"0.6". If system performs stop-reduce action, 60% of your position will be sold. This will overwrite "RPP" in Settings->Trading for this rule. Leave empty to use "RPP".
"Stop when price falls to how much percentage of cost price? ":"0.9". Your potential largest losses is 10%.
"Percentage of balance to sell when stopped":"1.0". When stopped, you do not want to keep any ADA. If you want to keep at least 20% ADA for long term investment, set to "0.8".
"Rise to percentage of cost price to break-even":"1.05". System raises stop and stop-reduce price to cost price if price has risen for at least 5%.
"Keep Profit Percentage for Stop-Reduce":"0.6". If price falls 40% from highest, system performs reduce action. To be more accurate, the stop-reduce price is :cost_price + (highest - 1.05*cost_price) * 60%. 1.05 is the break-even parameter.
"Keep Profit Percent for Stop":"0.5". If price falls 50% from highest, system performs stop action. To be more accurate, the stop price is: cost_price + (highest - 1.05*cost_price)*50%.1.05 is the break-even parameter.
Leave other parameters as default.
Although it seems complicated, buy most parameters is set in global settings, what you really need to input are:"Exchange","Symbol","Cash Symbol","Since". That's all that you need to reduce your losses and keep profits.