This time we are going to try to bring some light about TSSL, one of the most powerful Gunbot features.
How does this strategy work? It can be used for both buying and selling. In this case I’m going to focus only on selling, as it’s the same concept.
TSSL tries to get the best price possible as far as the trend is favorable. In order to make it easier to undertand, let’s see an example. Ok, suppose you set GAIN parameter to 4. Now the bot will only sell if the profit is above 4%. Easy, isn’t it? Now, how does TSSL affect? We need to set a Sell Range. Suppose we set it to 1.
Ok, suppose we bought LTC for 100, and the price rised to 104. The bot should sell, as GAIN parameter is set to 4 and we already reached to target profit, however, in this scenario, TSSL will set a Stop Loss Limit to 103 and a Trailing Stop Limit to 105. Note that if we would have set Sell Range to 0.5, Stop Loss Limit would be 103,5 and Trailing Stop Limit would be 104,5.
As I already said, TSSL will try to get the best price possible. In other words, if the price reachs to 104 and the price is still going up, the bot will let the price reach to 105. At this moment, the bot will set Stop Loss Limit to 104 and Trailing Stop Limit to 106. If the price reachs to 106, SLL would be set to 105 and TSL to 107 and so on. This way Gunbot will keep waiting for the best price possible until SLL is hit. Then, once the trend is starting to move downwards, it sells.
Some extra tips for using TSSL with Gunbot:
– By setting TSSL_TARGET_ONLY to TRUE, you can avoid the risk of selling at loss when the Stop Loss is hit when we are still in the initial sell range around bought price.
– By setting TP_PROFIT_ONLY to TRUE, the bot would only sell with profit. In other words, the bot would only sell above the bought price.
– The Selling Range you set has a huge impact on how Gunbot will react. The lower the selling range you set, the more reactive the bot will be. The advantage of setting a low selling range is that the bot will sell fast if the price is dropping. On the contrary, if you set a high selling range, the bot will take advantage of big upswings, and it will be able to get very high profit %. However, it would be slower to reach when the price drops. It’s important to take this into account in order to adapt the trading style to your likings. Personally what I try to get is a balanced settings, to take advantage of upswings and at the same time be reactive enough when the trend starts to go down.
– It’s important to take into account that setting a high selling range would make the bot less reactive, and when there is a fast price drop, the price could drop below selling range before the bot is able to react. If this happens, the bot wouldn’t sell even if the price reached above selling target for some time. If you want to avoid this, don’t set a very high selling range.
– If you want to check how TSSL performs with different settings, your best bet is to use Gunbot Backtesting Addon, as it allows to simulate results, check buy and sell points and get an idea of how your settings would perform on an easy way and with no need to risk real funds. Note that Backtesting Addon is included on Gunbot Pro and Gunbot Ultimate, and it also can be purchased as a standalone pack if you have Gunbot Standard.
– TSSL can be combined with other buying or selling strategies. You just need to enable TRAIL_ME