Bitsgap's GRID Shiba Inu Trading Bot works by placing buy and sell orders at specific intervals to profit from price changes. Note that Shiba Inu’s price depends heavily on the enthusiasm of the community, creating a market with high uncertainty of direction. So, make sure you use Bitsgap's advanced Shiba Inu trading bots to manage the risk.

Risk management includes mechanisms like Stop Loss orders on your Shiba Inu trading bots when prices move in a direction you don’t want. If you expect the price to rise, you usually place this order below the current trading level in case the price crashes and your assets lose value quickly. A Stop Loss would be executed somewhere in the red, but not so far that you would lose too much.

Take Profit orders are executed when you are ready to close a trade because the profits have reached the desired amount. To set up this type of order, you just need to set your parameters, such as the target price level. The trade will be closed automatically once these targets are reached. The main purpose of setting up the Take profit order is to get perhaps small but sure profits.