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Using Profit Trailer + Feeder as a "stop loss" while also trading on Binance?


#1

Hey people! So I would like to use PT feeder as a sort of automated stop loss while also making trades at prices I determine since Binance doesn’t allow more than one order on the same coins at the same time. Now because of PT’s update rate of 2 mins minimum this couldn’t be used with my usual manual trades on the 1 min candles so they would need to be setup for intraday trading or at least 5 min candles I’m thinking. Another useful feature to incorporate in this setup would be a panic sell from X alt coin back to my main pair and then back to either USDT or TUSD, which ever you guys prefer. This would need to be setup on the shortest time frame that is a possible.

!This setup would not incorporate any TV signals or Market buy/sell conditions!

An example of all of this being. You want to buy some OMG as it has good volume for the day and plenty of movement.

  1. You do some TA and determine what price you believe BTC/OMG will drop down to, manually enter that price into the appsettings to buy at.

  2. What price OMG/BTC will go up to, again manually entering in that number to the appsetting to sell at.

  3. What OMG/BTC “stop loss” you want in place while doing this trade, whether it be a percentage or Satoshi count (I personally would use the later of the two).

  4. What BTC/USD price you are looking for in order to get back to a “stable” currency (this being optional if you are instead just trying to accumulate more BTC).

  5. The last step would be the “panic sell” from OMG to BTC to USDT. This being determined by what buy price you are looking for it to drop down to and/or how much of a percentage you are looking to loss before the “stop” initiates. This setting would need to exclude any and all previous buy/sell conditions in order to make sure the whales dont hurt me too much :smirk:

  6. The last step in using this would be after all of that info is in place and ready to go, you purchase the BTC manually and start the bot with the above conditions in place.

(The steps are meant to be followed in numerical order btw)

I would personally like the panic sell option to be set on the quickest time scale PTF can run at while perhaps the BTC and OMG portion to be maybe 5min-1hour?

Anyways that’s all I have thought of so far and dont know if this would be actually doable or not but please give me some insight and if it is completely doable i will also need some tips for setting it up… ( sorry boiz :upside_down_face: )

Thanks! :money_mouth_face:


#2

Interesting concept. I wonder if Feeder is the best place for this though or PT for that matter.

The biggest feature gap I see is that there no way for Feeder to tell PT to buy or sell “at this price.” Everything in PT is done via strategies not by price.


#3

Hmmmm I guess it would have to be a percentage change value from when I purchase it then?


#4

For which step?

If you want to do through Feeder, I can maybe see this flow:

  1. For one, buy via a TV alert.
  2. Set the gain strategy for pair or set a sell alert in TV.

4/5 seem like a different strategy to 1 or 2. I’m not quite sure how they are related yet.