Channel vs. Personal
'Channel'
While the 'Channel' toggle is enabled, the Stop configuration for each trade will be determined dynamically based on the signal and channel settings.
'Personal'
Use the 'Personal' option to override the channel and determine your own Stop-Loss preferences.
'Only use if not defined by group'
Selecting the "Only use if not defined by group" checkbox will enable the chosen stop-loss configurations to be used as a fallback only when the parameter is not specified in the group configuration or the posted signal. If the parameter is defined in the group configuration or signal, the bot will use the value set in the group configuration.
Stop
Stop-Loss Distance Percent
The percentage away from the selected stop baseline at which the trade will place a sell order at a loss.
Stop-Loss Baseline
Defines which price the stop-loss distance will be calculated from.
First Entry
If you use this as your baseline the stop-loss will be placed at the set distance away from the first entry price.
*First entry based on the signal's entries + the user's entry strategy.
Average Entries
If you use this as your baseline the stop-loss will be placed at the set distance away from the calculated average of your entry orders.
*Based on the signal's entries + the user's entry strategy.
⚠️ Important Note
By Choosing 'Off' you will completely disable stop loss orders in your trades. This means no stop loss order will be created for your automated trades.
Skip Signals Without Stop-Loss
This parameter is only applicable when the Channel value is selected for the default stop. When Off/Personal values are selected, your trades will either never have a stop or always have a stop, and this parameter will have no effect.
Stop-Loss Timeout
The Stop Loss Timeout feature allows you to define a timeout period by which to delay the closing of a trade by a stop-loss order, in case you suspect the price will change again in the desired direction shortly, and you don't want to close (sell) your position immediately when reaching the stop-loss price.
You can set a timeout of 1 Minute up to 1 Day (24 hours).
Trailing
The Trailing Stop-loss feature aims to help you protect and secure profits from trades managed by the Cornix trading bot. It's a valuable tool that, when used correctly, can enhance your trading strategy. It's essential to familiarize yourself with the five different trailing stop types our bot offers.
By understanding and selecting the trailing stop type that aligns with your trading goals, you can dynamically secure profits while minimizing risk.
Breakeven:
Moves the stop-loss to the average entry point automatically.
Moving Target:
Gradually shifts the stop-loss to a distance of one target from the last target that was reached.
Moving 2-Target:
Shifts the stop-loss to a distance of two target from the last target that was reached.
Percent Below Triggers:
Sets the stop-loss at a percentage distance below a specific price reached.
Percent Below Highest:
Shifts the stop-loss to a percentage below the trigger, and keeps trailing that same distance below the maximum price that is reached during the trade.
Each stop type requires a trigger. The trailing stop will only activate once the trigger conditions are met. Specific trigger conditions are outlined for each stop type.
Stop Loss Automatic Leverage Adjustments
Please note that for automated trades with leverage, the bot will automatically divide "Stop-Loss Distance Percent" and "Trailing Stop-Loss" percentage parameters (excluding triggers) by the trade's leverage to keep your effective percentage settings.