How to Submit Trailing Stop Loss and Take Profit Orders on Dexes
Two strategies that maximize outcomes when market conditions are uncertain
Contents:
Dexible’s Recent Progress
Shortly after expanding our algorithmic and conditional orders to Fantom and Binance Smart Chain dexes, Dexible continues innovating. The Dexible team commits itself to build the most comprehensive set of professional trading tools for portfolio managers and traders in DeFi. Today, the team is proud to announce the launch of Take Profit Order & Trailing Stop Order capabilities to bring up the total order types to 7.
You can read more about Dexible v1.2.1. updates on our changelog.
Dexible v1.2 introduced Fantom and BSC as well as order logs improvements.
Dexible v1.2.1 introduced Take Profit Orders & Trailing Stop Orders.
Example order on Fantom inside of the Advanced Mode web UI.
Significance of Multiple Order Types
The significance of using conditional and algorithmic orders is that they maximize output from fills and minimize alpha decays in portfolios. Previously, the barrier to entry to get this experience was limited to the most technical or professional organizations. To have this type of full-lifecycle trading experience, it used to take a sophisticated full-time quantitative and blockchain developer to create trading scripts or harness dev-focused trade bots; or an in-house engineering, quantitative, and portfolio management team in a hedge fund or market-maker.
Today, anyone can use Dexible.
New Order Types
Take Profit and Trailing Stop orders allow for more complex capital preservation strategies.
If you have profits that you do not want to lose to the volatility of the markets, you need to protect yourself and your capital by taking advantage of these order types on Dexible.
Take Profit
Take Profits trigger when they surpass a price threshold, initiating a market order, behaving like a reversed stop loss, designed to swap out of an asset to secure profits.
Trailing Stop
Trailing Stop orders are a dynamic stop loss order that can be set at a defined percentage or amount away from the current market price of a specific asset. Whenever there’s a significant deviation from the current peak spot market price and it passes the threshold (the difference between the peak and the trigger), a stop loss is triggered. The stop loss continues to swap until all input has been swapped.
About Dexible
Dexible routes across 57 liquidity sources and has processed over 12k transactions and $400m in cumulative trading volume. With new integrations of BSC and Fantom, we’re excited to share the next stages of our growth in stewarding the future of multichain DeFi coexistence.
If you are looking to expand your portfolio to include small cap crypto assets, then you need a smart strategy to access those assets without succumbing to excessive slippage and a way to automate those positions based on price movements. Dexible is the best place to start for serious portfolio managers adding risk on dexes. Dexible accesses all existing liquidity sources across 5 networks for order fulfillment and introduces conditional and algorithmic orders to these low liquidity environments.
Traders can use both the Dexible web app user interface or the low-code SDK for programmatic order submission, available in both Javascript and Python versions.
You can find our updated user documentation here.
Reach out to us on Telegram or Discord for general inquiries or questions.
