Better ways to take profits?

General
1

Hey my friends. I’m looking for better way to capitalize on larger moves.

I’ve got some bots that I have a 7% TP (I know, it’s big) and they are doing very well right now, but they are still missing out on larger gains.

I am hand selecting the coins they trade every day and its’ working well.

Most of the time they are moving much higher than 7%, up to 30% sometimes.

I know I could use a TTP, but that’s not the best either.

What other ways could you recommend I test to try and grab those bigger moves without sacrificing the profits on the smaller ones?

I know you’ll be interested, so my bot settings are:
BO on Combined ratings Buy 3m
7% TP
-5% SL

DCA 2 SO
1.87% Step Order
1.32$ Step Scale
Vol Scale 3

I’m also using a bot controller to stop the bot after X amount of deals which has precisely to do with how I am picking my coins and their window of validity.

2

I use Trading Bots with Super Trend for both open and close. The parameters must be adjusted for the individual volatility to not make the too small trades.

1 Like
3

Selling at the highest price it’s difficult, same as buying at the lowest one. Through backtesting you can find what works for you, if using indicators, or %. One idea I can give you is to use a TP based on ATR, this way when there is more volatility it will be placed higher and vice versa.

2 Likes
4

Cool. I’ll give these a try in my backtesting and see what I can do.

5

ATR on TP is a great advice, nevertheless I use it mostly for dynamic SO scaling. As for TP I’d also suggest trying indicators, BO is great but StochRSI also worked well for me catching the K over D crossdown for long orders. Good luck!