Scaled Margin Orders
When to sell or when to buy is always a difficult matter. Very often fib levels and support levels are not exact science. Therefore it is important to set sell targets or buy targets between two price ranges when you are long or short.
Even though you could do a few manually, bitfinex scaled orders offer a few interesting additions
Bitfinex makes scaled orders easy
Distribution type
This is one element I like a lot about the scaled margin orders. By changing the distribution, you can for example sell more coins the higher the price goes in your target.
Example: If you want to close your long position of XRPUSD, you can select a range between .60 and .70 cents.
The flat distribution will sell an equal amount of XRP based on the amount of orders you want to make.
With the increasing distribution the amount will increase the more the price goes in that direction.
10000xrp with 10 sell orders with the expanding scaled order type
Below is an example I used for a long position on XRP. Since I am expecting a very fast and strong bullish push, I want to make sure I capture most of the run up.
This is what this position size looks like with the scaled orders.
In case this trade is succesful I will publish the results.