How to Trail Profits While Staying in the Trade :-

Trailing Take Profit means adjusting your take profit level higher as the price moves in your favor, ensuring increased profit while securing part of the gains.

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📌 Methods to Trail Take Profit:

1. Manual Method (Most Common)

Once the price reaches the first target, you adjust the take profit order and place it at a higher target or move it below a new peak.

Example:

You bought at $10, your first target is $12.

When the price reaches $12, you raise the take profit to $11.5$ or 12$ and set a new target of $13.

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2. Using Trailing Stop

Some platforms (like Binance) allow you to set a Trailing Stop.

The idea: You set a certain percentage or amount, and as the price rises, the stop loss or take profit automatically moves the same distance.

Example:

You bought at $10, set the Trailing Stop to $1.

When the price reaches $12, the stop loss moves to $11.

If it reaches $14, the stop loss moves to $13... and so on.

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3. Moving Based on Support and Resistance Levels

Using technical analysis: Whenever the price breaks a resistance and closes above it, you raise the take profit just below it.

This reduces the likelihood of an early exit due to minor fluctuations.

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💡 Important Tips:

Do not raise the take profit too quickly, so you are not forced out of the market due to a natural correction.

It's better to leave a comfortable distance between the current price and the take profit to allow the price to breathe.