Many people leave behind potential profit from cryptocurrency trades since they use manual and inefficient tools. If traders replace the traditional tools with automated ones, they could save a lot of time and expense while growing their earnings.
This is where the concept of using safety orders can become a profitable automation tool for you. Furthermore, you can use safety orders to build up basic trading scenarios and achieve your investment goal quickly. This article covers the definition of a basic trading scenario with safety orders, its basic features, and how to create one for yourself.
Let’s get started!
Defining the Basic Trading Scenario with Safety Orders
This is the strategy with instructions from the investor to execute buy or sell orders at a predetermined price. It provides different market orders to protect the trader from any market drops. When the parameters are met, the automated safety order takes immediate action. Let’s talk about some basic market orders under the basic trading scenario.
Types of Orders for Basic Trading Scenarios
- Safety Orders: A safety order is an automation tool that helps traders average their entry positions and take maximum profits during a certain market condition. Safety orders are useful when the market unexpectedly goes down. It allows you to make a profit without even recovering the full price of your digital asset. The process is done by a scenario that creates more entry positions on a falling price. The average entry price goes down, and traders exit with profits.
- Take-Profit Orders: A take-profit order(T/P) is a market instruction to brokers from the trader to exit from a position when a certain profit level is achieved. However, take-profits only work when the crypto price goes up to the profit level. If the price remains below the T/P limit, it won’t work.
- Stop-Loss Orders: A stop-loss order is the crypto trading strategy to create market orders when the price drops below the instructed price. This automation tool helps the investor stop further losses from a price drop by executing automatic actions at the next available price.
Basic Trading Scenarios on the Obolon9 Platform
After studying market orders like safety, take-profit, and stop-loss, it’s obvious that they can significantly improve your trades. Therefore, the next thing to do is find trading automation software to create a basic trading scenario.
Obolon9 is a software-based professional trading tool for cryptocurrency auto trading. This software enables users to replace manual trading processes with new automated tools for optimized trading performance. As a result, traders can easily test trading scenarios with the right strategies. This also significantly reduces the risk of a trade.
Obolon9 offers multiple subscription plans with a 30-day free basic usage. Creating automated scripts and alerts is very easy in Obolon9, and the free plan also has one fully functional scenario for you. However, you can also choose from the monthly (GBP 9.99) or annual (GBP 99.9) plans. These subscription plans are available with monthly payments.
How the Obolon9 Basic Trading Scenario with Safety Orders Works
Now it’s time to understand what safety orders are under the basic trading scenario and how they work in Obolon9.
They are a strategy inside the Obolon9 platform that can be used during a market drop. The software automatically deploys safety orders to take profits even before the exit. Obolon9 is so efficient that it sends alerts to your mobile or email inbox; hence, tracking pivot points manually becomes really unnecessary.
Here’s a summary of how basic trading scenarios and safety orders work on the platform:
- At first, the user must create the basic trading scenario after completing Obolon9 registration.
- Next, a scenario will be deployed by the software, where it will stay inactive until the market drops and the price reaches the level of entry. The scenario will start creating market orders (entries and exits) to average the entry position.
- If the price falls to the stop-loss level, then the Obolon9 scenario will get deactivated. But if the price goes up to the profit level, the scenario automatically creates a trailing-stop limit. The advantage of a trailing-stop strategy is that you get maximum profit despite a price drop.
- Finally, you set an arbitrary number for safety orders inside the software so that maximum profit is achieved.
Discover Your New Basic Trading Scenario with Safety Orders on Obolon9
Here are the easy steps to set up the new basic trading scenario with safety orders on the Obolon9 platform.
- Start with the name or title of the scenario in Obolon9.
- Add a script — Basic trading scenario.
- Select your desired market. Also, you must select the currency pairs of your choice.
- Set the parameters — Only alert mode.
- The software will ask you to set timescales in minutes.
- Set the trading volume, entry price, take-profit order, and trailing-stop.
- Enter safety order parameters like volume, numbers of orders, stop-loss percentage, and martingale ratio.
- Use the Save and Start button to finish the scenario.
In conclusion, we have found the importance of using basic trading scenarios and automated market orders for making more profit with less manual labor. You can easily set scripts with safety orders to save your money from a price drop.
We have found Obolon9 to be one of the best choices in crypto trading automation. The platform supports a free 30-day trial for creating automated scripts. Once you are confident with the platform, you can start using professional tools simply by following the subscription process and a few simple settings.