Wick Hunter is a popular trading platform among cryptocurrency traders, known for its advanced features and tools. One such feature is ladder mode, which allows traders to move their stop loss when they have two or more take profits.

In the above picture, ladder mode allows you to close part of your position at Take Profit #1 and move the stop loss for the remainder of your position to your entry price. As you can see in the picture, the price subsequently decreased. Without ladder mode, none of your entire position would have closed (if only using Take Profit #2), potentially resulting in missed profits. By using ladder mode, you are able to capture a greater profit.

This can be particularly useful in volatile markets where prices can fluctuate rapidly. If the price goes up to a 1.2% profit and then back down, the ladder mode feature could close 50% of the position at a 1% take profit, with the remainder is closed at the average entry price. This can lead to higher take profits and a higher percentage of winning trades.

There are two options for ladder mode within Wick Hunter:

Option 1: Level based — This option moves the stop loss to the average entry price when X take profit is filled and continues to follow it. For example, if you have 5 take profits and use level based with a setting of 2, once your second take profit is hit, your stop loss will be moved to the entry price. When your third take profit is hit, the stop loss will be moved to the first take profit. This option always keeps the stop loss two levels behind.

Option 2: Average Entry price — This option moves the stop loss to the average entry price once X take profit is hit. For example, if you have 5 take profits and set this option to 3, then your stop loss will be moved to the average entry price when your third take profit is hit and will stay there for the remainder of the trade.

In conclusion, ladder mode is a valuable feature for traders using Wick Hunter looking to maximize their profits and minimize their risk in the fast-paced world of cryptocurrency trading. This advanced tool, along with the range of other features offered by Wick Hunter, make it a top choice for many traders.
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​We hope you enjoyed this article. If you’re interested in automated trading, be sure to visit wickhunter.io. Our platform offers a range of solutions to help you succeed in the markets. Thanks for reading!

The information provided in this article is for general informational purposes only and does not constitute financial, investment, or other professional advice. It is not intended to be a substitute for professional advice and should not be relied upon as such. Please seek the advice of a qualified financial professional before making any financial decisions. The author and publisher of this article do not assume any responsibility for the actions or inaction of readers based on the information provided.