Stop Losses

What type of stop loss types are supported?

Algobot currently supports trailing and limit stop losses.

What is a safety stop loss timer?

A safety stop loss timer halts the bot and waits the specified amount of seconds (the stop loss timer) to see if there's a true stop loss trend. This is to avoid unnecessary transaction fees.

What's a smart stop loss counter?

When the market is extremely volatile, and there's a reverse trend after a stop loss is triggered, if this counter is enabled, the bot will reenter its previous position when the reverse trend is detected. Take extreme caution with this as this is a bad method of losing a lot of money if it's a kangaroo market. However, don't neglect it either, as it can be a good setting during normal market conditions and when the bot is fully left autonomous.

What's a custom stop loss?

A custom stop loss is nothing more than a fixed stop loss at a certain price. This takes precedence over all other parameters or strategies. If the price reaches a certain threshold that you specify, the bot will automatically exit its position.