Is it possible to sell digital assets better with SkyRocket? This is possible if you use SkyRocket Sell.
You already know how to buy digital coins better, we wrote about it in lesson # 3. However, real profit only appears when we manage to cash our purchases. That’s the whole problem. How can SkyRocket Sell help here?
In lesson # 2 we discussed the action of Stop Loss Walking (SLK). However, this is not always the right tool. If we have just bought a digital coin and we assume its increase, e.g. by 25%, setting a regular SL Step may not be enough. Price volatility can lead to sales before our minimum assumption. And that’s why we created SkyRocket Sell, which is perfect for this situation.
The difference is that we can determine when the Rolling Stop Loss will start. Later, its operation is in principle identical to SLK.
An example of using SkyRocket Sell
We bought a BNB lesson for 0.0019570 in the previous lesson and would like to sell it profitably.
However, we don’t want to sell cheaper than at 0.002280. Normally, we would issue a Limit order at this amount on the stock exchange. However, this deprives us of the chance for additional earnings if the price broke this level and went higher.
We set the SkyRocket Sell order
In the “Activate at level” column we insert the price 0.002280 at which the Rolling Stop Loss should be launched. We put the percentage drop from the highest price that is to start the sales order in the “Trailing” column, and then insert the sales price level in the “Limit” box, indicating how much the percentage should be lower than the highest. Finally, in the “Amount” section we fill in the number of digital coins and let’s get to work.
Now the most important question “What do we gain from this tool?”
If the BNB rate increases during this time, say to 0.002460, the sale would be at 0.0023862, which is 4.7% more than we would sell with a regular Limit order. However, we can gain even more.
One of the many problems with sales is what assets we sell the selected digital coin. It is well known that the reaction of most Altoes to a sharp rise or fall of Bitcoin is an equally rapid movement of the course. If we want to protect our Alts against such activity on the stock exchange, we can set Stop Loss. But it only protects us from falling our assets against one value.
For example, we have SL set to BTC and during this time BTC dives by 12%. If our Alt also began to fall, it sold on SL and our capital shrank by an additional 12% as a result of a decrease in BTC. In this case, we’d be better off setting SL to USDT. However, if BTC went 12% the other way round, sales to USDT would deprive us of those 12% that we could gain as a result of a change in the price of BTC.
The solution is to set the sale of all our Alts and to BTC and USDT, if the capital drops in BTC then it is sold to BTC, and as in USDT to USDT. This can further improve the state of our portfolio.
Test for free at skyrocket.trade.
All you have to do is select the “register new account” option and enter your email address and password. Then click on the activation link that will come to the e-mail address given earlier and log in to the newly created account. You can learn more about the operation and use of the platform from the free SkyRocket service course available here: SkyRocket.