Hi folks,
since the exchanges do not support advanced order types like in the stock market i'm lookin for a trading tool/service that can do the trick. I'm looking for example for a stop loss order. This is if the btc price is lets say 440$ you say if the price drops to lets say 403$ execute an order with the limit of 402$ on e.g. Bitstamp.
In the stock market you can do this as an order type at your brokerage site.
Is there a site where i can type in this type of orders and the site then routes the orders to the exchange? Something like you have a charting tool and then you can your trading out of the charting tool?
Looking for ideas..
Greetz
since the exchanges do not support advanced order types like in the stock market i'm lookin for a trading tool/service that can do the trick. I'm looking for example for a stop loss order. This is if the btc price is lets say 440$ you say if the price drops to lets say 403$ execute an order with the limit of 402$ on e.g. Bitstamp.
In the stock market you can do this as an order type at your brokerage site.
Is there a site where i can type in this type of orders and the site then routes the orders to the exchange? Something like you have a charting tool and then you can your trading out of the charting tool?
Looking for ideas..
Greetz
The volume of BTC exchange trades is generally too low for exchanges to wish to invest in this technology. Although these order types may seem simple they are not. They would also add a lot of order volume that would never get executed (read higher costs without revenue increasing as much).
In theory you could develop an API trading program that would automatically create this kind of order, but the API would need to make a lot of queries.