What is a trailing stop loss, and how do you set one on Hyperliquid?
Updated Nov 9, 2026 · 4 min read
A trailing stop follows price up and locks in part of the move. Definition, how wide to set it, and BTC, ETH, SOL and HYPE trail sizes on Nov 9, 2026.
What is a trailing stop loss? A trailing stop is a stop order that moves with price in your favour and never moves back. On a long, it sits a fixed distance below the highest price since entry; when price falls by that distance from the peak, the position closes. It protects a winner without capping it.
Key takeaways
- The trail can be a percentage (5% below the peak), a dollar amount, or a multiple of volatility such as the average true range (ATR).
- Too tight and normal noise closes the trade; too loose and it gives back most of the gain. Volatility is what decides “tight”.
- A stop that only exists in your head or on a screen does not protect anything while you sleep. It has to rest on the exchange or be run by software that is always on.
- On Hyperliquid, a stop that fires is filled as a market (taker) order.
How wide is a trailing stop on Hyperliquid today?
The same 5% trail means very different things on different markets. The table puts each perp’s volatility next to the dollar size of common trails.
| Market | Mark price | 30-day realised volatility (annualised) | ATR(14), daily | 2% trail | 5% trail | 10% trail | Half a daily ATR as a trail |
|---|---|---|---|---|---|---|---|
| BTC | $74,118 | 34.7% | $2,355 (3.2%) | $1,482 | $3,706 | $7,412 | 1.6% |
| ETH | $2,109 | 49.3% | $96.41 (4.6%) | $42.18 | $105.46 | $210.92 | 2.3% |
| SOL | $85.92 | 44.7% | $4.4783 (5.2%) | $1.7184 | $4.2961 | $8.5921 | 2.6% |
| HYPE | $72.91 | 64.2% | $5.8941 (8.1%) | $1.4581 | $3.6454 | $7.2907 | 4.0% |
BTC moves about 3.2% on an average day by ATR; HYPE moves about 8.1%. A 2% trail on HYPE is inside a normal day’s range, so it would close most positions on noise. Traders who size the trail by volatility often start between half and two daily ATRs and adjust from there.
Three ways to set the trail
- Fixed percentage. Simple, but ignores how much the market moves.
- ATR multiple. The trail widens on volatile markets and tightens on calm ones.
- Profit tiers. The stop stays at breakeven or a fixed floor until the trade is up a set amount, then locks a rising share of the peak (for example 50% of the gain at +5%, 70% at +10%).
Trailing stops on Senpi
Every Senpi strategy runs with a stop from the first fill. The runtime’s dynamic stop loss uses the tiered version: a floor that rests on the exchange from the first tick, then tiers that lock a rising share of the high-water mark and only move one way. When the runtime closes a position itself it tries a maker (resting) order first; the floor on the exchange fires as a taker order. Describe the rule in a sentence to your Senpi agent, in the app or from Claude, ChatGPT or another AI app through the connectors. Senpi shows the rules back to you, then runs them in a separate strategy wallet with the stop attached from the first fill.
- Moose, EMA crossover trend follower: enters on a 4-hour moving-average cross and trails a stop behind the move.
- Armadillo, capital preservation: low leverage, majors only, a tight trailing stop on every position.
What is a good trailing stop percentage for crypto?
There is no single number because volatility differs by market. On Nov 9, 2026 the daily ATR was 3.2% for BTC, 4.6% for ETH, 5.2% for SOL and 8.1% for HYPE. A trail narrower than half a daily ATR is usually hit by ordinary movement.
Does Hyperliquid have trailing stop orders?
Yes, on perps. Hyperliquid added a native Trailing Stop in early November 2026: a market order that triggers when the mark price retraces from its best level by the distance or percentage you set, and its trigger never moves against you. Pick Trailing Stop as the order type and set the distance. Apps can also run their own trailing logic, as Senpi’s runtime does with DSL, which moves the resting stop as the peak rises.
Is a trailing stop better than a fixed stop loss?
They do different jobs. A fixed stop caps the loss on a trade that goes wrong from the start. A trailing stop protects the gain on a trade that went right. Many traders use both: a fixed floor first, then a trail once the trade is in profit.
Why did my trailing stop fill below the trigger price?
A triggered stop becomes a market order, so in a fast move it fills at the next available price. That slippage is the price of being protected when you are not watching.
Put a trailing stop on every position
Tell the agent your trail in plain language. Senpi runs it with a floor on the exchange from the first fill.
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