Experienced traders often go beyond basic stop loss techniques to optimize their trading strategies. These advanced techniques can provide greater flexibility, better risk management, and enhanced profit potential. Let's delve into some advanced stop loss techniques:

1. Percentage-based Stop Loss: Setting a stop loss at a specific percentage below the entry price helps to limit losses to manageable levels. This method provides a clear exit point in case the market moves against your position, ensuring you only risk a predetermined portion of your investment.

2. Trailing Stop Loss
As the price moves in your favor, the system automatically adjusts the stop loss, reducing losses by moving the stop loss point closer to the current price. However, if the market reverses, the system may also close the position at a loss.

3. Time-based Stop Loss
Setting a stop loss that triggers if the price does not reach a specific level within a certain timeframe helps manage trades based on time-sensitive opportunities. This method ensures that you exit underperforming positions within a predetermined timeframe.

4. Support and Resistance Levels

Setting stop loss and take profit orders based on key support and resistance levels identified through technical analysis helps you leverage market psychology. These levels often act as price barriers and provide strategic points for risk management.

5. Average True Range (ATR) is a technical analysis indicator that measures market volatility. Adjusting stop loss levels based on market volatility can provide more breathing room for your trades in a fluctuating market. This method helps prevent premature exits due to normal price fluctuations, increasing the likelihood of capturing significant price movements.

6. Trendline Stop Loss
Using trendlines drawn on charts to set stop loss levels that follow the asset's trend is a strategic risk management approach. This method can help you maintain trades aligned with the current trend while effectively managing risk.

7. Stop Loss Breakeven Feature has a significant impact on trading outcomes. It increases the likelihood of enhancing profits and provides a safer trading experience.
The breakeven stop loss can only be enabled when multiple take profits are active and at least 2 profit targets are set.
Profit Strategy

Take profit strategies involve setting target prices to close trades at predetermined levels. Traders believe the market may reverse, and the trade may no longer be favorable, so they set this price. When the price reaches the target level, the take profit order is executed automatically to conclude the trade profitably. This strategy is used to lock in gains and avoid losses, making it an important component of successful trading.

Fixed Ratio Take Profit
Determining a fixed risk-reward ratio (e.g., 1:3) helps to set profit levels, thereby maximizing gains. This method ensures that the profits you earn are multiples of the initial risk, thus improving the overall success rate of trades.
Multiple Take Profit
Multiple take profit is a strategy that involves closing part of a position at different price levels. For example, if a trader buys 100 ETH at $1000, they might sell 50 ETH at $1200 and another 25 ETH at $1400. This strategy allows traders to lock in profits while still giving the market room for fluctuations. The advantage of this strategy is that it allows traders to realize gains at different price levels. However, it requires more planning and monitoring compared to a fixed take profit strategy.

Trailing Take Profit
Configuring a trailing take profit is a straightforward process, similar to setting a trailing stop loss. When establishing a position, navigate to the take profit settings. Instead of specifying a regular take profit target, select the trailing take profit option and enter a percentage above the entry price (e.g., 0.5%).

Pyramiding Take Profit
Gradually increasing the position size as the price moves in your favor can lock in higher profits. This approach leverages strong trends to increase winning positions, thereby maximizing potential gains.