Stop loss after buying coin - page 2.

Oilacris

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Quote from: rexxarofmoknathal on July 17, 2020, 06:01:24 PM

It depends on the platform you use.

I know that binance offer stop loss features for all of its trading pairs, but you might not find this functionality on newer or less advanced platforms.

I personally set my stop loss to -10% on my entry price, and I set my take profit order at 20% (most of the time). So long as I pick more winners than losers, this system should pay out.

I disagree!
Newer platforms will surely mostly have this kind of functionality since this had been the norm or commonly needed by most people specially to those who do trade off actively.
Ive been using stop loss in binance and i dont know if other platforms do have it since i havent tested out other platforms yet i do trust up binance when i do trade.
Stoploss is helpful yet this do limit out deeper loss in to your trade which this had been known by majority.If you do go for long term then this feature
wont really be that much important.

rexxarofmoknathal

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It depends on the platform you use.

I know that binance offer stop loss features for all of its trading pairs, but you might not find this functionality on newer or less advanced platforms.

I personally set my stop loss to -10% on my entry price, and I set my take profit order at 20% (most of the time). So long as I pick more winners than losers, this system should pay out.

Ryker1

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Quote from: Houdini76 on July 16, 2020, 03:23:12 PM

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

Well, this kind of strategy is very common in trading. If you still learning to trade I suggest pausing for a while and make your own research on how to execute stop-loss process in trading. Because of this required skill on how to read technical analysis and followed by fundamental analysis.
There is a thread that I have read last week and I applied this, so far so good at the moment. Here is the thread of stop-loss.
^{https://bitcointalksearch.org/topic/one-of-the-best-weapons-in-trading-5173189}

ashmodeus

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yes,coinbase pro have stop loss fuction.
Select the STOP tab on the Orders Form section of the Trade View,then Choose whether you'd like to Buy or Sell,then Specify the Amount and Stop Price at which the order should be triggered,then Specify the Limit Price and done,u can leave the your trading account.

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Quote from: Houdini76 on July 16, 2020, 03:23:12 PM

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

Yes, It's possible to set stop loss orders on almost all exchanges (including coinbase). if I'm not mistaken. You can see order types available at coinbase.pro exchange, what each order type does and how to set different order types like stop loss, limits and more.

Quote from: The Cryptovator on July 17, 2020, 03:25:06 AM

I didn't used coinbase pro, so I don't know if stop loss features available there.

Stop loss order type is available on coinbase.pro. It's a small but cool tool that comes in very handy. The functionality is available on almost all exchanges.

Gozie51

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Stop loss is very good to use so that you can prevent total loss of the coin you have because you won't have the knowledge of future movement of the price. Coinbase too is a good platform for such kind of trade.

The Cryptovator

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I didn't used coinbase pro, so I don't know if stop loss features available there. But those exchange support stop loss you may set it on there. There are some advantages & disadvantage of the stop loss. Advantage is, the stop loss would help you to prevent huge loss. The disadvantage is, you would miss profits due to stop loss if coin price start pump after hit stop loss. But personally I believe advantage is stronger than disadvantage. You may use stop loss to prevent huge loss of your total portfolio.

Zemomtum

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Stop lost is a good measure to use and avoid your digital assets being crash suddenly. It is better to lose 5-10% of your holding as compares to 80 -100% within an hour. He does happen in crypto space regularly and this it is a great tool to prevent this type of occurrence.

stomachgrowls

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Quote from: Houdini76 on July 16, 2020, 03:23:12 PM

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

You can set up stop-loss anytime you do want which is mostly 5-10% below on your purchased or buypoint or depend on how much you can risk on. I havent tried coinbase pro if they do have SL tool but i can give you out

some tuts on how its been done but this time it on Binance. You can check it out here https://www.binance.com/en/support/articles/360040016512#:~:text=How%20can%20we%20help%20you%3F&text=02%2021%3A26-,The%20stop%20order%20on%20Binance%20Futures%20platform%20is%20a%20combination,when%20the%20order%20is%20placed.

As a beginner or do make active trades then this tool is always been suggested to be used up.

Houdini76

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Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

Topic: Stop loss after buying coin - page 2. (Read 313 times)