Bitcoin Forum

Hey Zhoutong,

Thanks again for your great service! I was wondering if there are any plans to implement Stop Limit Orders?
As far as I know, they shouldn't be too hard to implement, and it will prevent stupid base prices when a spike soars
far past my trigger point. Thanks! :)

I second that opinion for sure! My new position base flew past my trigger point by 40 cents during the major move up :P

Do others here even use the trailing stop and stop functions on his website?

I can imagine his stop limit order would just result in you getting no position at all.

Unil, if I understand you correctly you might have had a buy order in at 5.01 but when
it actually executed to buy you got them at 5.41, right?

And that is exactly why I tend to do things manually. I could not find a thorough explanation
of his stop and trailing stop functions on his website.

fcmatt, that is correct in the sense that I had a stop buy order at 5.065, but the order was placed at a base price of 5.47.

How do you go about the manual way of things then, if I may ask? I simply use bitcoinica since it allows for shorting, going in on margin, etc. and haven't been trading long (began watching bitcoins in December, began trading last month), so I am not completely up to date with other forms of placing stops, limits, trailing stops, etc. on different sites or in a "manual" sense. Thank you for the help though, or pointing that out. If you have a different method to minimize such occurrences then I would certainly be intrigued.

I agree. I tried to use stop orders, but could not. The same happened to me. The thing is that the price spikes and your stop order becomes market order. But before the system is able to process it, the price moves back/forth/whatever, usually to your loss. I blame the spread for this.

Actually, a Limit stop order would not be any good, since when it should be executed, you'd get nothing, since the price probably moved just above your order. This is the way stuff happens with such high spread.

You probably want to place order "buy if prices goes above 5.0, but not for more that 5.1". I would like that too, but then it'd be more like programming a bot.

What has that got to do with volume? I just want to protect my stops with a limit, and it should be really easy to implement.

The last thing you mentioned is exactly what a Stop Limit Order is  :P You fill in your stop, upon which the order automatically becomes a limit order for the Limit price set, which is separate from the Stop price.

By manual I mean i use limit and that is it. By hand, when I want to sell and to buy.

Exploit how? The current stop orders are way easier to exploit, since they turn into market orders once your stop price is hit.

Sorry, I misunderstood it :-)

I would like to see this too, not using Stop orders for this reason.

i want stop limits also, been waiting to see this come out.

Atm asking for new features is a bit out of whack with reality (however stop limits would be really great).

He needs to get what he has working.