Are Coinbase PRO orders recurring?

[ncbeachdude]

Total newbie question I know, but we all started as such

If I place a LIMIT order under SELL such that ALL my Bitcoin is sold at 42,000 and that order was filled and completed, does it stay in place until I remove it, or once it's filled I have to create another order?

[exstasie]

If I place a LIMIT order under SELL such that ALL my Bitcoin is sold at 42,000 and that order was filled and completed, does it stay in place until I remove it, or once it's filled I have to create another order?

Once the order fills in entirety, it's removed from the order book and your open orders. You'll no longer have any BTC in your account. At this point, one would usually place a limit buy order, to buy back at a lower price.

[ncbeachdude]

So if I understand you, after the LIMIT BUY to replenish BTC, I would have to create another STOP SELL order?

[exstasie]

So if I understand you, after the LIMIT BUY to replenish BTC, I would have to create another STOP SELL order?

It depends what you're hoping to accomplish.

Stop sell orders are usually used for stop losses. If price drops below your trigger price, a sell order will be executed. This preserves the USD value of your account.

In contrast, a limit sell order would be used to take profit. For example, if you bought BTC just now at $35K and wanted to exit at $40K, $40K is where you would set your limit sell order.

More advanced exchanges like Bitfinex support OCO (one cancels the other) orders, which allow you to set both a take profit and a stop loss at the same time. Coinbase unfortunately doesn't support them yet.