Last Buy Percentage Drop Loss
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Last updated
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Haasbot's Last Buy Price Drop Loss Safety is a Safety that works by allowing a user to set a numeric amount so that if the price drops by X amount, in relation to the last buy, the bot will sell the bought Position in an attempt to get out of the market.
This Safety is useful if the user wants to protect against a sudden drop in the price when they are in a bought Position. For instance, if a user's Trade Bot buys Bitcoin at 500 and the Last Buy Price Drop Loss is set to $5, and the price of Bitcoin drops to $495, then this Safety will execute a sell order at $495.
