Trailing Stop Losses are LIVE on Bogged.Finance.
We’re pleased to announce that Trailing Stop Losses are LIVE for any token on BSC’s Pancakeswap and Apeswap.
What is a trailing stop-loss?
A trailing stop-loss is an intelligent version of a normal stop-loss, which is a limit sell that fills if the price dips below a certain point, preventing losses from happening.
In a trailing stop-loss, the sell price follows (or “trails”) behind the current price of your chosen token, meaning that if the price moons and then unexpectedly drops, then the stop-loss would trigger at a higher price, meaning more profits for you.
Placing an order for 10 CAKE with a 10% trigger percent would allow the Stop Loss to follow the price of CAKE as it increases and then trigger a sell once the price retraces by that 10% against the new high.
How to use BOG Trailing Stop Losses
- Simply visit the Stop Loss Page on Bogged.Finance and select “Trailing Stop Losses”.
- Ensure you hold 5000 BOG or equivalent priority.
- Select the token and the amount of the token you wish to protect with a trailing stop loss.
- Enter the trailing trigger percentage — the % change that is required negatively to sell.
A Trailing Stop Loss order requires the user to hold 5000 BOG or equivalent priority, the order lasts for 31 days before expiring and costs $5 per order in BNB.
Additional Reading
Investopedia: https://www.investopedia.com/terms/t/trailingstop.asp
Rayner: https://www.tradingwithrayner.com/trailing-stop-loss/
What’s next?
We have more surprise announcements, partnerships and launches in the coming weeks which we’re keen to announce in the coming days.
Social Media:
https://t.me/bogtools
https://discord.gg/bogtools
