#NavigatingAlpha2.0 Trailing Stop Loss (TSL) is similar to what you described. Instead of setting the SL (Stop Loss) precisely, it allows you to hold onto shares as the price rises, and automatically adjusts the Stop Loss when the price falls.

How to use Trailing Stop Loss (TSL)

On Binance Spot, you can use "Stop-Limit" and "Trailing Stop."

1. Trailing Stop Loss

You can adjust the SL by following the % (Percentage) or a small fixed amount that you set.

For example, if you buy BTC at $60,000 and set the TSL at 5%, as BTC rises, the SL will also rise.

If BTC rises to $65,000, the SL will then be $61,750 (5% below).