Please Explain This Bitcoin Trade | Bitcointalksearch.org

hugeblack

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Quote from: rat03gopoh on June 16, 2023, 08:38:40 PM

Nope for all
Well, innocent boy, you have told us everything https://bitcointalksearch.org/topic/met-beautiful-young-asian-woman-on-dating-site-to-teach-me-trading-5456569.
Never before have I thought that you're being milked by Asian women and it will be worse. I think you're not using legitimate Coinbase as I thought.
Just let go of your $20, you can't save it anymore. And, stop creating new threads about the same thing.

Most likely, it will not be a woman, but another account that was hacked or that she is being paid by hackers to persuade traders to deposit.
Sorry for your loss, but if a woman from the Internet asked to invest in a site and it will give you a quick return, then it is a clear indication of fraud, and then you will not be able to withdraw your money.

TheGreatPython

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Quote from: David92506 on June 15, 2023, 08:40:00 PM

Thank you for taking the time to read my post and reply.
When I trade FOREX, I can Buy or Sell, at the Market, and then end the trade whenever I want.
For example, let's say I Buy at $10. It increases to $10.5, $11.0, etc. I can get out of the trade whenever I want to. I don't want to get out of the trade because I believe the price will keep going up and up.
Is this possible when I buy Bitcoin in Coinbase?

Cryptocurrency exchanges operate differently than forex markets and exchanges I believe, I don't know much about forex since I've never traded forex, but I can tell you about cryptocurrency exchanges. When you buy a coin at a certain price, you can always place a sell order above the market price if you want to sell it at a certain price, if the price goes up and hits that target, your coins will be sold. You can do the same for buying as well.

If you buy a coin at $10, and then it's price increases to $10.5, you will have to manually place a sell order to sell it and you can't just do it with your previous buy order because that is not how spot market works, you will set your target price and sell it at that price manually.

rat03gopoh

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Quote from: David92506 on June 15, 2023, 08:40:00 PM

Is this possible when I buy Bitcoin in Coinbase?

Nope for all
Well, innocent boy, you have told us everything https://bitcointalksearch.org/topic/met-beautiful-young-asian-woman-on-dating-site-to-teach-me-trading-5456569.
Never before have I thought that you're being milked by Asian women and it will be worse. I think you're not using legitimate Coinbase as I thought.
Just let go of your $20, you can't save it anymore. And, stop creating new threads about the same thing.

Husires

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Quote from: usekevin on June 16, 2023, 01:49:43 PM

Trading is not the easy one as you expected,we need to spend more time on trading to learn it.Once you had learn it well,you can start to trade with your real money.Before investing in the coin,you need to check the demand of that coin in the market.If you inverse in bitcoin,it’s not a necessary to check about bitcoin before investing.But it’s essential one to understand the flow of altcoin and it’s important value as a new trade to the cryptocurrency market.

It is true that trading is difficult and not something that you can predict, but we are talking about placing trading orders, which are simple in spot trading, approximately 6 or 7 orders. Each order is executed as a buy or sell order according to certain conditions. And if you do not want to go into the details, there is something called the converter, where you can easily convert between your cryptocurrencies without tracking the market situation.

With this command, you can easily convert between your cryptocurrency pairs without even researching the market details.

However, learning all commands enables you to automate trading instead of sitting in front of the screen and waiting for the specified price.

usekevin

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Trading is not the easy one as you expected,we need to spend more time on trading to learn it.Once you had learn it well,you can start to trade with your real money.Before investing in the coin,you need to check the demand of that coin in the market.If you inverse in bitcoin,it’s not a necessary to check about bitcoin before investing.But it’s essential one to understand the flow of altcoin and it’s important value as a new trade to the cryptocurrency market.

Findingnemo

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Quote from: David92506 on June 15, 2023, 06:13:03 PM

Why did it immediately close and how do I prevent it from happening?

Because you chose that kind of trade so it executed immediately. You can see the types of orders in the coinbase article section as well as how to change it so to sell or buy at your desired price then you need to choose the limit order and set the minimum price for the order to get confirmed.

It may take a while to get familiar with these things but eventually you will get to know everything if you keen on noticing everything while doing trades and do more research about it.

SamReomo

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Quote from: David92506 on June 15, 2023, 06:13:03 PM

I click [SELL BTC] and the order is placed.
The order is immediately filled and over.
I made $20

Why did it immediately close and how do I prevent it from happening?

You have made a market sell order on futures, and the order got filled instantly, you haven't made $20 from that order but had an open position that is worth $20. You'll only make money when the price of BTC goes further down and you will see the %age of profits that you made. You'll only secure the profit if you close the order when the price is below the shorting price where you opened a short position.

I think you aren't familiar with crypto trading that's why you are asking such questions. I recommend you to learn about crypto trading first before putting your money on trading because if you continue doing this type of trading you will definitely lose a lot of money.

Franctoshi

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Op, this suggest or teaches you the need why you should learn before starting to trade, So there's definitely the need you go learn some basic stuffs about trading such as this, before engaging in more trading so you will be able to differentiate between this trading tools and in order not to get into this kind of confused state with placing limit orders. Placing a wrong order may cause you to lose money in the market, imagine if this was a future contract that this happened, it has automatically put you into position which might not be your choice direction.

AbuBhakar

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Quote from: David92506 on June 15, 2023, 08:40:00 PM

Thank you for taking the time to read my post and reply.
When I trade FOREX, I can Buy or Sell, at the Market, and then end the trade whenever I want.
For example, let's say I Buy at $10. It increases to $10.5, $11.0, etc. I can get out of the trade whenever I want to. I don't want to get out of the trade because I believe the price will keep going up and up.
Is this possible when I buy Bitcoin in Coinbase?

Because Forex trading is a derivative/option trading while Coinbase that you are using is a spot trading. You are buying the real tokens and you can withdraw outside the exchange while Forex is just buying of contracts of the pair you are trading which means it's not the real asset. This is why your position on Forex will just remain active when you purchased since its a contract unlike spot that is an actual tokens.

You should learn the technicalities and definition of both type of trading before you enter on the actual trading. You are referencing the price that’s why it's hard for you to understand how it works.

jeraldskie11

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Quote from: David92506 on June 15, 2023, 06:13:03 PM

Why did it immediately close and how do I prevent it from happening?

I don't use Coinbase, but I believe I can assist you with your issue since it's an exchange same with Binance. To prevent this, avoid using "Market Order" because it will automatically fill your orders based on the current market price. Instead, use "Limit Order" to set your order to the price you want to sell or purchase at, and if the market price matches your order, it will be completed promptly. When I trade, I never use market orders since the market is so volatile that if you buy, it will always choose the highest price. Instead, I always use limit orders.

Husires

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Quote from: David92506 on June 15, 2023, 08:40:00 PM

Thank you for taking the time to read my post and reply.
When I trade FOREX, I can Buy or Sell, at the Market, and then end the trade whenever I want.
For example, let's say I Buy at $10. It increases to $10.5, $11.0, etc. I can get out of the trade whenever I want to. I don't want to get out of the trade because I believe the price will keep going up and up.
Is this possible when I buy Bitcoin in Coinbase?

Yes, but do not use a market order for selling, it will lead you to sell directly even if the price is lower than the market price at the present time because it is an order for the purpose of providing liquidity and executing the order directly regardless of the price. Use the sell option with a price limit and wait for the order to be executed by waiting until The average price on the platform is equal to the price at which you sell.

I suggest that you start with a demo account so as not to lose your money. In that account, you can trade with zero virtual money for the purpose of learning.

dzungmobile

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Order types on Coinbase.

You did a market order that will be executed and filled immediately.
If you want to set a price you want to sell but the market has yet moved to that price, you can use a Limit order.

Quote

On the order (or buy/sell) panel, you can place a market and limit order.

A market order will execute immediately at the current best available market price

A limit order lets you set a minimum price for the order to execute

A stop-limit order lets you specify the stop price an order should execute. If the market order price falls to your stop price, your order will trigger a sell

Read Coinbase writing about their Limit order.

Quote

Limit order

A limit order is a buy or sell order that executes at the minimum price you set or better. Limit orders also feature enhanced order options like expiration and execution instructions. For a buy limit order, your maximum price—also known as the limit price—is what you’ll pay to purchase an asset. For a sell limit order, your order will execute at your limit price or higher.

With only $20, you should not trade because trading fee costs you a lot. Hold your bitcoin (that $20 equivalent) is better.

Tytanowy Janusz

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Quote from: David92506 on June 15, 2023, 08:40:00 PM

Thank you for taking the time to read my post and reply.
When I trade FOREX, I can Buy or Sell, at the Market, and then end the trade whenever I want.
For example, let's say I Buy at $10. It increases to $10.5, $11.0, etc. I can get out of the trade whenever I want to. I don't want to get out of the trade because I believe the price will keep going up and up.
Is this possible when I buy Bitcoin in Coinbase?

because it is crypto trading and not stocks/derivatives trading. When you open a futures contract, you must close it before withdrawing funds. So the position is open until closed. If you buy bitcoin on coinbase, you don't have an open position with exposure to bitcoin, you just own bitcoin with which you can do what you want. You can withdraw to another exchange, or to a private wallet or, you can buy altcoins with it or a washing machine in store ... whatever you want. That's why it doesn't show up as an open position in your account because you don't have a bitcoin position, you own a bitcoin now. The same with selling bitcoin. If you want to close your position just do an oposite trade.

David92506

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Thank you for taking the time to read my post and reply.
When I trade FOREX, I can Buy or Sell, at the Market, and then end the trade whenever I want.
For example, let's say I Buy at $10. It increases to $10.5, $11.0, etc. I can get out of the trade whenever I want to. I don't want to get out of the trade because I believe the price will keep going up and up.
Is this possible when I buy Bitcoin in Coinbase?

joniboini

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You're doing a market sell, so your order gets executed immediately. Are you familiar with market sell/limit orders? I'm not sure if I get you correctly, but it seems like you want to place a limit order instead. If you want to learn more you can read it at their help page[1].

I also suggest you continue asking on your previous threads since this is related, and make a new one if you want to ask a completely different question/topic.

[1] https://help.coinbase.com/en/coinbase/trading-and-funding/advanced-trade/order-types

David92506

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I Have A Coinbase Account
I Sell Bitcoin $20.00 at Market

ORDER DETAILS
MARKET
AMOUNT    0.00078578 BTC
TOTAL    20 USD
EST FEE    $0.12
EST SLIPPAGE    0.00%
EST AVERAGE PRICE    25605.44 USD

[SELL BTC]

I click [SELL BTC] and the order is placed.
The order is immediately filled and over.
I made $20

ORDER DETAILS
ORDER ID
PAIR    BTC-USD
TYPE    Market
TIME IN FORCE   Immediate or Cancel
SIDE    Sell
AMOUNT    0.00078578 BTC
EXECUTED    0.00078578 BTC
SUBTOTAL    $20.12
FEE    $0.12

Why did it immediately close and how do I prevent it from happening?

Topic: Please Explain This Bitcoin Trade (Read 145 times)