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What is the Trailing Covering?
Here we take the spot position as an example. When the market price falls and reaches the pre-set price of the covering position , the position will not be covering immediately, but market price will be continuously monitored until the market price rises.
Trailing the position-covering mechanism can help you reduce the cost of the holding positions as much as possible when the market price falls sharply on one side.
Both the DCA and Grid strategies of uTrading have set the option of tracking and filling. You can enable the tracking and filling function by opening and filling the ratio of the “Trailing Cover(%)” option.
To execute a complete Trailing Covering, 2 conditions must be met:
- 1.The price rebounds from the lowest point to the current price, and the rebound ratio must be greater than the pre-set ratio of “Trailing Cover(%)”.
- 2.Since the last time the position was opened, the market price has fallen more than the “Price Gap(%)”