Bitcoin Forum

I am using bitstamp for trading. And I am facing a problem. When I make an limit order to sell on if the rate reach a certain level. Then I can't make a limit to sell when the rate falls and reach a certain level.

I will give an example. Yesterday the rate was 280 $ and I bought some coins. I made a limit to sell when the price would reach 284 $. I also want to make a limit to sell when it reach 275 $. But I can't do that on bitstamp. So when I went for lunch and come back price had dropped to 250 $. If I would have been allowed to make the stop limit I wouldn't loose as much as I did now.

Is this the same on the other exchanges or only on bitstamp ? How are you solving this issue ? I think it's important to put an stop limit.

Thanks.

What do I need to do to install it ? If we say that I use bitstamp ?

But why would you want to do that (placing a stop-loss at higher price than buy price - at 284?)
What you normally do in case of a stop-loss order is specify the bottom, not top.

For example if you bought at $280, you would make yourself insured by placing a stop-loss order at $270, specifying a $10 "buffer" over current price.
Now if the price falls by $10, your order would sell, stopping you from making further loss.
But if the price rises to $320, your sell order will automatically adjust itself at $310, honoring the $10 buffer.

only bitstamp.

at least lakebtc and btc-e are not this problem

Bitstamp have two type of orders.

1. Limit order
2. Stop order

I bought the coins at 280 $ , and made an limit order at 284 $. So I sell them at 284 $ and earn 4 $ profit

I wanted to make an stop order on 270 $ so if the price falls to 270 $ I want to sell. But I couldn't do that. When I asked bitstamp why , they said because the coins are locked in the first order there I made an limit order on 284 $.

How is your suggestion to do ?

I would suggest to only one order: create a stop order at $270. While creating it, specify a buffer of $10.
So if price falls to $270, your coins will sell. If price goes up, your order will adjust itself at $10 below new price. This is more desirable than placing a limit order at $284.

Your solution is perfect, but are you sure that you can do it on bitstamp ? I don't find that option.

This is directly from BitStamp:


Notice the 'trailing stop'? It will adjust itself if price rises.


https://i.imgur.com/s695DmI.jpg

Thanks!

If we say the price is now 280 $ , and I choose “Sell price falls to “ and write 270 $ and tick the “trailing stop “. What will happen here ? I think my coins will be sold if the rate reach 270 $ . Correct ?

But if also want to sell if the price reach 290 $ so I can cash the profit. How can I do that ?

Correct.



If price reaches $290, your trailing sell order will adjust itself at $280. Now if you want to immediately sell, you can login, cancel the stop order and place a limit order at $290 which will execute immediately.

That's the problem. I need to have access to the computer in order to do that.

I don't understand why they don't also make an option so we can choose that the coins to be sold 280 $. Then I could cash the profit without having access to the computer.

Will this scrypt solve my problem or not ? https://cryptotrader.org/backtests/kiAQxbik8ps7kBjn5

Once your stop order is already adjusted on $280, it will automatically sell if price drops to $280. You don't need to do a thing.
You only need to manually sell if you certainly believe that the price will go down from $290 to $280, and you want to sell at $290 without waiting for this to happen.

No idea about the script, I've never used any.

Thanks for explanation.

If I understand this correct " Once your stop order is already adjusted on $280 " . You mean that I need to go in and adjust it from 270 to 280 $ ?

I dont understand how i can use it...