Trailing stop loss: My encryption trading lifesaver

Stop staring at the screen all day! Using the trailing stop loss for the first time has completely changed my trading life. This tool is so smart, it automatically follows the price of the coin, saving me from those frantic moments.

Do you remember that altcoin I bought for 100 USD a while ago? I set a 10% trailing stop loss, initially stopping at 90. As a result, the coin skyrocketed to 120, and the stop loss line obediently followed up to 108. When the market suddenly reversed, I was sleeping, and this function automatically sold at 108—preserving most of my profits! In the past, I might have woken up to a total loss.

This thing is really important in such a crazy market right now. Especially with the high volatility of Bitcoin recently, I don't have time to watch it 24/7. Not to mention those tokens that suddenly crash, without this feature I would have lost a lot already.

Interestingly, the design of trailing stop loss varies greatly among different trading platforms. Some are designed to be incredibly smart, while others are frustratingly clumsy. I have tried several platforms and found that the trailing stop loss on some platforms fails during high market volatility and is simply unreliable!

For someone like me who works a regular job, this feature is a lifesaver. I can't constantly monitor the charts, but I also don't want to miss out on market trends or get stuck in a position. Even if I fall asleep or am busy with work, I can rest assured that my position has automatic protection.

However, be careful; setting a trailing stop loss too tight can easily be washed out by small market fluctuations. I have fallen into this trap a few times before, where a slight pullback in the coin price triggered a sell-off, resulting in losing the larger trend. Now I adjust the percentage based on the volatility characteristics of different coins.

When the market trend is clear, trailing stop loss is simply a cash machine. It allows you to automatically capture the upward momentum while also protecting profits during pullbacks. If you're still manually adjusting your stop loss, you are truly wasting time and money!