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Author Topic: Is it possible to place an order to buy or sell Bitcoins at a preset prices?  (Read 595 times)
Steverino (OP)
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February 11, 2014, 02:05:03 AM
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Is it possible to place an order to buy or sell Bitcoins at a preset price? For example, let's say I want to purchase Bitcoins if the price falls to $550 or maybe I want to sell if the price goes up to $1,000 but I don't want to have to keep watching the current price. I'd like to be able to place an order that will automatically buy or sell Bitcoins when my price target is reached. How can I do this?
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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DrHerbSmoker
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February 11, 2014, 02:24:32 AM
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i may be wrong but im pretty sure u can do this on btc-e. dont hate me if im wrong but isnt this how most of the exchanges work?
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February 11, 2014, 03:33:09 AM
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Is it possible to place an order to buy or sell Bitcoins at a preset price? For example, let's say I want to purchase Bitcoins if the price falls to $550 or maybe I want to sell if the price goes up to $1,000 but I don't want to have to keep watching the current price. I'd like to be able to place an order that will automatically buy or sell Bitcoins when my price target is reached. How can I do this?

That is called a "limit order" and I'm pretty sure that all exchanges support it.

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February 11, 2014, 12:24:59 PM
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Is it possible to place an order to buy or sell Bitcoins at a preset price? For example, let's say I want to purchase Bitcoins if the price falls to $550 or maybe I want to sell if the price goes up to $1,000 but I don't want to have to keep watching the current price. I'd like to be able to place an order that will automatically buy or sell Bitcoins when my price target is reached. How can I do this?

Of course you can do this. Look what happened on BTC-e the other day. People got coins very very cheap on the crash.
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February 12, 2014, 07:47:15 PM
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How can I do this?

Which exchange are you using now?
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