Thoughts on good crypto and trailing stop losses
I recently posted this question on the subreddit r/xrp, but let's just say that the responses I received were not particularly helpful. I'm hoping to get more constructive advice here. I currently hold some XRP, Ethereum (ETH), and Bitcoin (BTC) on Coinbase. However, the majority of my cryptocurrency assets are securely stored in cold storage to enhance security.
I've noticed that many people are advocating for the use of trailing stop losses as a smart strategy for managing risk and potentially maximizing profits. A trailing stop loss can automatically adjust to favorable price movements while protecting against significant losses. Unfortunately, Coinbase doesn't offer the option to set up trailing stop losses directly on their platform.
I've been researching alternative solutions and came across Good Crypto as a potential option for implementing trailing stop losses. I'm curious if this platform is a good fit for what I'm trying to achieve. Does anyone have experience using Good Crypto for this purpose? Are there any limitations or concerns I should be aware of?
Additionally, I'm open to other methods or platforms that allow for setting up trailing stop losses without incurring a monthly fee. I'm looking for a solution that is both effective and cost-efficient. Ideally, I'd prefer a platform that integrates smoothly with Coinbase or supports easy transfers between wallets.
Any advice, personal experiences, or recommendations on how to set up trailing stop losses for cryptocurrencies like XRP, ETH, and BTC would be greatly appreciated. I'm eager to find a reliable method to manage my investments more proactively without unnecessary costs.