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how to do stop loss on coinbase
To set a stop-loss order on Coinbase, navigate to the "Trade" page, select the trading pair, enter the stop-loss price, and submit the order.
Nov 04, 2024 at 01:13 pm
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How to Set a Stop-Loss Order on Coinbase
Step 1: Open your Coinbase account.
Navigate to the Coinbase website or mobile app and sign in to your account.
Step 2: Go to the "Trade" page.
On the Coinbase website, click on the "Trade" tab. On the mobile app, tap on the "Trade" button in the bottom menu.
Step 3: Select the trading pair.
Choose the cryptocurrency pair you want to trade, such as BTC/USD or ETC/USDT.
Step 4: Click on the "Sell" button.
Locate the "Sell" section of the trading interface and click on the "Sell" button.
Step 5: Enter the stop-loss price.
In the "Sell" order form, you will see a field labeled "Stop Loss." Enter the price at which you want to sell the asset if it falls below a certain value.
Step 6: Select the order type.
For stop-loss orders, you should select the "Stop" order type. This type of order will only execute if the market price reaches or falls below the stop-loss price.
Step 7: Review and submit the order.
Review the details of the order, including the stop-loss price, order size, and order type. Once you are satisfied, click on the "Submit Order" button.
Example:
Let's say you own 1 BTC and want to set a stop-loss order to protect against a potential drop in Bitcoin's price. You could set a stop-loss order at $40,000. If the price of Bitcoin falls below $40,000, your order will be executed and you will sell 1 BTC at the market price.
Note:
- The stop-loss price can be adjusted at any time before the order is executed.
- Coinbase charges a trading fee for all executed stop-loss orders. The fee varies depending on the trading pair and the order size.
- Stop-loss orders are not guaranteed to be executed at the exact stop-loss price. If the market price drops rapidly, your order may be executed at a lower price.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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