For most types of orders, additional trailing can be used to achieve optimal entry or exit points.
For example, you have set up a buy method that allows you to buy when prices hit the lower Bollinger Band. Without additional trailing, a buy order is placed as soon as the price hits the bottom line. With a trailing stop, Gunbot follows prices as they dip further down and only buys after the trailing stop is reached, when the price is still at or below the lower Bollinger band.
Types of orders that allow additional trailing:
- Ordinary buy order
- Ordinary sell order
- DCA buy order
- Cancellation of a buy order
- Cancel a sell order (when the price is higher than the last buy order)