What is the best approach to preserve profits?

  • 1 Answer
    • haasscript
    • preserve profits
    • trailing stop alternative
    asked 3 years ago

    For example, in a leveraged position (either short or long), how do I instruct the bot to preserve the profits after x% has been exceeded?

    As an example:

    • Open a long position with BTC at $5000
    • As soon as my profits exceed 3% I would like to 'preserve' those profits without necessarily closing the position.
    • I can even imagine it as a function like: preserve 75% of profits after the position reaches a profit of 3%

    In such a high volatility market there are many instances in which the position is profitable and can then follow a sharp direction against my position without hitting the exit indicator I set up. I want to 'preserve' profits rather than 'take profits'.

    The trailing stop is not necessarily helpful with this, and wondering if there's any other solution I may have not found yet.


    This can be done with our latest version of HaasScript's functions, Unmanaged Trading.

    However, it will quickly become a complex script once you consider the conditions to close the remaining 25% of the profit that you have made.

    Another recommendation is that you join our Discord and get feedback from knowledgeable community members as well as HaasScript developers.

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