Topic: Cryptocurrency Exchanges SUCK - page 2. (Read 972 times)

I'm not sure if you did understand me because a lot of people seem confused about what I'm writing since it is very complicated to write about.

Poloniex and Kraken and many other exchanges already have stop limit orders. But the problem is that I can't put in a stop limit sell order directly when placing my buy order so I have to wait until my order gets filled and then I can set my stop limit order which most exchanges already have.

I want to put a limit buy (price I wish to buy) + stop limit sell (prices to sell at to limit my loss and reduce risk) all directly at the same time instead if waiting till my limit buy gets filled to set my stop limit sell order. This makes it very risky when placing a buy order and going to bed to catch some sleep or grabbing some coffee because the price can go down a lot and you will buy while you don't have a stop limit sell order to reduce risk.

I hope this clears up things a little bit

what you are asking for is having forex options on a bitcoin exchanger, that is not possible.
Remember that kraken, poloniex and any other sites you have mentioned, they all are exchangers, not forex markets. You can buy, and sell because that is the main function.
If you wanna do trading with all those options better to look for a broker that support altcoins, like whaleclub, 1broker, and simplefx

No, all of the best exchanges indeed have stop-limit orders but you can only do a stop limit sell order after buying, which makes putting a buy order very risky if the price drops far below. Once the stop limit sell order is set things are pretty safe if you do it right. But you still need to keep watching until your first buy order gets filled (unless you buy directly at market price)

Aren't the two biggest exchanges have this function? Check out poloniex and bittrex.

This is something I have been asking the current exchange that I use about, they're saying that they may implement it in the future but for right now I'm looking for alternative exchanges which allow for stop-loss orders and the like. It's not fun to stay awake and watch a market to see if there's going to be a slide or complete crash, and that's the same for Bitcoin and all other alts that I traded or used to trade.

Hopefully they start to implement them in more places, but for right now I think a majority of us are SOL.

I'm on Bitfinex, at least for now until they kick US customers out.  But they have everything you're probably looking for:

• Market
• Limit
• Stop
• Stop-Limit
• Trailing Stop

They even have a scaled orders, which takes an order and splits it up into as many as you want; you can even customize the curve so that it starts small and moves larger as it gets closer to a price.

It is hard to do it yourself. You can do it easier with a bot and you can save time.

I think you need a bot, check out what's available if your particular feature isn't available you can request it or you'll need to pay someone to code a bot with the features you want.

Kraken is more advanced but it still doesn't have what I want.

Seems like you always have to choose between buy/sell limit orders and buy/sell stop limit orders
The most advanced thing that Kraken has is Stop Limit Sell + Take Profit.

But no Buy Limit + Stop Limit Sell + Take Profit.

The thing I do on Kraken is a Buy Limit order, then I wait for my order to get filled and then I set the Stop Limit Sell + Take Profit.

I just don't get what's so hard about combining those two. The features are already there. It just needs to be combined.

Well, it is true that most exchanges do not have those kind of orders. At least not the one that I use (lol). However someone told me that there are such things in Kraken, for example. Have you tried it?

Could be but I'm actually pretty good at trading.
It's just I don't want to watch the market ALL the time

The only way around it is to buy at current price and then set stop limit order. But buying at the current price might be even riskier

EDIT: Fixed typo

maybe it's better to just HODL

Hello,

As you can see at the title I think that cryptocurrency exchanges suck.
Here is why.

I lost a lot of money because of the lack of features making me need to watch the market all the time.

For example:

Current price of coin is 10 BTC
I want to buy at 9 BTC so I set an order at 9 BTC
The price drops to 1 BTC and I successfully buy at 9 BTC because it drops way below.
Now I have bought 9x the current price?

Why can't I do an buy limit order + stop limit sell order all at once?

Example of what I want:

Current price of coin is 10 BTC
I want to buy at 9 BTC and don't want the price to drop below 8 BTC so I try to buy at 9 BTC and also set a stop limit sell order instantly and I want to take profit at 11 BTC (Stop price: 8 BTC | Limit price 7 BTC | Take profit price 11 BTC) BEFORE submitting my order.
The price starts dropping to 1 BTC,
My order at 9 BTC gets filled.
Price reaches 8 BTC, stop limit sell order gets executed to sell at 7 BTC.
Price reaches 1 BTC but I still only lost 2 BTC instead of 8 BTC.

Why do exchanges have to let you wait until your buy limit order get's filled until you can FINALLY place a stop limit sell order to reduce risk?

This is stupid, hasn't anyone thought of this yet?

Of all exchanges I have tested Kraken is the best because it let's you do a stop limit + take profit.
Poloniex which is my favorite exchange because of the large volume and choice only has buy/sell limit OR buy/sell stop limit

To clear things up a bit all I want is a buy limit (to buy at the price I want) + stop limit sell (to reduce risk when the market crashes) + Take profit (to sell at the price I want to get my profit)


So why not??

I would like to get some sleep when placing a buy limit order. And NOT HAVING TO WATCH ALL THE TIME UNTIL MY ORDER GETS FILLED TO FINALLY SET MY STOP LIMIT ORDER

I hope not to get any hate with this topic