HINT: don't use market orders ever
They saved my ass so many times I can't count, with a limit order you are totally exposed if a black swan event hits bitcoin and price move quicker against you, it can trap you in a crappy position for ever unless you realize massive losses.
A stop loss is to get out, not to get out at a certain price and then get stucked with an unfilled order.
The slippage is compensated by the massive profits you protect doing this.
When using QtTrader, the 'buy' and 'sell' functions are simple limit orders that get sent to the exchange and saved on the exchange. It's a nice little UI that let's you set your profit margins, hit buy, then hit apply profit margin and hit sell and will let you trade quickly. However the 'rules' are not sent to the exchange as limit orders. The 'rules' are held on the QtTrader bot and NOT saved on the exchange in 'orders', QtTrader watches the price raise and drop live. If QtTrader crashed for instance, then your rules would not be executed, so slight risk involved there. But If the price plummeted and was consistently falling, a QtTrader rule for (if market sell price < 700 then sell 'all coins' for 'last market sell price') would continue dumping your coins as the price drops, essentially acting as a stop loss.
Hopefully that makes sense?
