Is it possible to place an order to buy or sell Bitcoins at a preset prices?

[Steverino]

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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[DrHerbSmoker]

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?

[odolvlobo]

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.

[yatsey87]

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.

[Sonny]

How can I do this?

Which exchange are you using now?