malicious person won't know when to trigger it but a concern is that if the exchange API is down when the stop-loss is triggered, it might not close you out. At the same time, you're aware that crypto is volatile, and that tomorrow's headline. As with a regular sell order, your coins will be sold at the best possible price; so, if you want to be sure your coins get sold, set the limit price even lower. A broker called IQ Option is our favourite. Once your stop-limit order has been triggered by the highest bid or lowest ask reaching your stop price, it turns into a buy or sell order for the price you enter in the limit field. This guide doesn't cover margin orders, we've posted a separate guide explaining this. Anything Crypto is UK-based and not regulated by the FCA (Financial Conduct Authority).
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Many people use crypto coin trackers as a middle ground, which allow you to monitor holdings across several exchanges/wallets in one place, often offering notifications for large price movements. This guide explains what they are, how to use them on Bitcoin/cryptocurrency exchanges, and why they should be used differently in crypto vs the stock market. Is a popular exchange allowing fiat deposits. For example if you have 1000 to invest in a coin, rather than just buying 1000 of that coin straight away - you'd buy 500 worth at the market price, and set several buy orders at lower price prices, for example one at 5 lower. When you buy a cryptocurrency, say Bitcoin, you'd buy it at a certain price - 4000 for example. In this case if you get it right half the time - you'll make some money (this isn't as easy as it might sound, often people get it wrong far more than 50 of the time). A stop-limit order is an order to place a regular buy or sell order (also known as a "limit order when the highest bid or lowest ask reaches a specified price, known as the "stop." This can be helpful for protecting profits or minimizing losses. In December 2017 they removed this functionality for crypto, so we looked for an alternative. Amount - this is the same as the "Amount" on a regular buy or sell order.