With bot trading, you will no more miss any opportunities. When trailing, you will automatically follow the price and take action at the right time. The goal of Trailing Take Profit (TTP) is to maximize the position's profit and capture big price movements without taking profits too early.
On Mizar, you can set up your DCA bot and add the Trailing Take Profit functionality. Simply head on over to your DCA bot creation dashboard and activate the TTP.
How does Trailing Take Profit work on Mizar?
In this case, when the take profit target has been hit, the position will not be closed immediately. The bot will track the position with a deviation percentage, for example, when the take profit percentage is 5% and the trailing deviation is 0.5%, then the bot trails the position at 4.5% profits. If the profits keep increasing, then the trailing profit target increases as well, but if the profits decrease then the trailing profit stands until the trailing take profit target is hit.
Mizar updates the TTP target price with a maximum delay of 20 seconds. Once the TTP price is reached, the position will be closed with a market order. If the position is expected to be closed in loss, then the TTP condition is reset until the take-profit target is reached again.