I can understand the frustration and disappointment you felt when having to sell your Bitcoin during a market downturn, especially if you had planned on holding it for the long term. However, it's important to remember that emergencies can happen, and sometimes we have to make difficult decisions to take care of ourselves and our loved ones.

If you find yourself needing to sell Bitcoin again in the future, one way to help mitigate the impact of market downturns is by hedging your position with futures contracts. This allows you to lock in profits on your existing holdings while still maintaining exposure to the market. You could consider researching and learning more about how futures contracts work and how they could benefit your investment strategy.

Another way to help minimize the emotional impact of market downturns is by having a clear investment plan and sticking to it. This means deciding on how much Bitcoin to hold, when to sell or buy more, and what your overall financial goals are. By having a plan in place, you can make more rational decisions based on your long-term strategy, rather than reacting emotionally to short-term market movements.

Lastly, remember that investing in Bitcoin is a long-term game. While it can be disheartening to see the value of your holdings decrease during a market downturn, Bitcoin has historically shown resilience and recovery after such downturns. By taking a long-term perspective and staying committed to your investment strategy, you can help minimize the impact of market fluctuations and position yourself for success in the future.

Thanks for the reply, nevertheless, I am asking this question, as I am in the process of making a grid bot and need this to close profits, while being able to trail-up / lock more profits instead of using fixed sell limits.

As it appears, there is no safe route to take in trading that ensures 100% order filling in spot market.


So, considering that, if I use market orders for buy and sell, the actual prices have big deviation from expected grid levels,
while using limit orders, has the problem of orders being filled partially and inability to achieve a trailing-up / lock profits mechanism...


Does anyone have any ideas what is the best way to do grid trading ?

Hello, I would like to ask a question using an example. The question regards only spot market.

Let's say that I have 1 BTC balance on my spot account.

The current market price is 60,000 USDT.

I believe that bitcoin's price is going to go up and I want to keep my BTC, but I don't want to risk my current profits if its price drops dramatically.

So, I would like to sell my BTC and take USDT if the market price drops at 50,000. What type of order do I have to use to accomplish this?

I have read the documentation regarding the limit orders, but from what I can understand, it is not possible for me to place sell limit at 50,000 USDT, when the current market price is at 60,000 USDT. From what I have understood, the buy limit orders can be placed only below the current market price, while on the other hand, the sell limit orders can be placed only above the current market price. So, if I placed a sell limit at 50,000 USDT, when the market price is at 60,000 USDT, the order would be executed immediately at the current rates, as it is more profitable, am I correct?

I have also read the documentation regarding the stop orders, but it is not clear how I could achieve what I want and how the system would behave in this case.

More specifically, it isn't clear what the difference between stop value and limit value is on a stop-limit order. From what I can see, and in accordance with the example above, if I placed a sell stop-limit order, with stop value at 50,000 USDT and limit value at 50,000 USDT, the system would create a sell limit order at 50,000 USDT whenever the market price would reach at this amount, but it is not quite explicit what would actually happen if the price would drop even lower, as the sell limit order type implies that it would be executed only at the rate of 50,000 USDT and up. So, in the edge scenario, that price reaches 50,000 USDT and keeps dropping lower rapidly, and there is a lack of liquidity (let's say only 0.1 BTC is asked at the 50,000 USDT rate), I assume that the order would be partially executed and I would be left with 0.9 BTC and keep losing value until the market price increases again, and the remaining order is fulfilled. Am I correct? This would not happen if stop limit supported to behave as a trigger point and the execution was done as a market order, but in such case, defining a limit value is pointless, isn't it?

Please, don't mention me that there is no liquidity problem, as the example is theoretical and the pair BTC/USDT could be any other coin which might face liquidity problem. My point here is that I want to find out exactly how the system actually behaves in this case, and to know what orders can achieve my purpose: to liquidate my BTC at 50,000 USDT or lower (according to the order book's liquidity).

Thank you in advance for your time, looking forward for your news.