Stop loss after buying coin

[Houdini76]

Thank you guys you are very helpful bunch .

[1714194719]

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[1714194719]

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[1714194719]

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[MCobian]

A good choice to use stop-loss after buying coins, so you have taken steps to protect the capital you have. Without using the stop-loss
feature if the price goes down then you can lose your capital, I always choose minus 5% for the stop-loss settings that I use.Of course
Coinbase Pro has a stop-loss feature, because almost all popular exchanges must have a stop-loss feature.

[wozzek23]

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

I understand that you are imagining like stop-loss orders are something a special type of orders and we need any special arrangements for that. But in reality, stoploss orders are just similar to what we are usually doing to sell the coins but you need to put in advance so that your losses will be in expected (acceptable) limit rather than being unlimited losses.

You bought a coin, fine; then what you will do to take profits? You will sell higher prices than your buying prices, right? So, you will put sell order which is higher than your buying prices and this can be done with the help of usual order types. Because, you are going to put the order which is higher than the current market prices.

When we are selling higher than current prices then ordinary sell order is enough which is usually we do to book profits.

But, stoploss order is needed be put lower than current market prices hence we need to put with the help of stop-loss order type, which will not trigger until that price reaches.

If you put lower prices than current market prices to sell in normal order type then that will be executed at current price levels itself; which will not serve the purpose.

[Twentyonepaylots]

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

Yes ofcourse. You can always stop your loss whenever you wanted to. But I believe that is a panic selling. Because you are foresee that coin to continue going down, better to cut the loss as soon as possible.

Literally a panic selling, stop loss is different from that, stop loss is where you decide to get out of a losing situation, well we can say that panic selling is a kind of stop loss since you're doing the same thing as stopping your loss but in very short term. Panic selling is for weak hands who are easily distracted by the declining price as early as they enter their buying position.

But to avoid that, before you buy a coin for a trade, make sure that you've think about it carefully.
Do not buy it if you are not really confident, you might just end up lossing.

Doing a self technical analysis will do so much to avoid the unwanted loss or better you won't be needing any stop loss anymore.

[bitgolden]

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

When you are not sure how to make use of stoploss for your trades then it is highly recommended to have exit levels on both profit and loss directions. It means you must have to be prepared when to exit when market moves on. Usually all traders will have exit point for profits zones and might never think about exiting at losses which leads them to keep their position opened and if they are lucky enough then market itself rebound to get them profits otherwise exchanges will liquidate them when there are enough margin available to keep the positions open.

You do not need to have to make use of stop-loss orders when you are not familiar on it. Just fix an exit level and keep watching the market and when your exit level reaches just sell and close the trade. If you keep waiting then your losses may grow up. So, determine your exit on loss levels with technical analysis and then go trading with that.

[Ridwan Fauzi]

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

Yes, you can do it when you bought a coin. Logically when you have a coin it means you can do anything with your coin. You can sell them when you've got profit and you can sell them when the coin price is decreasing. You can set it, have you know all the feature in coinbase pro? I suggest you can see in some youtube channel to do what you want.

This is what I've done so far, I mean if I found new exchange and interest to the exchange I'll see in some youtube channel for all feature that has offered by the exchange and that is very needed especially if you have intention to be a trader. Also,you may need this thread because I think this is a useful thread to know where you have to put the stop lose when you bought a coin/token https://bitcointalk.org/index.php?topic=5261095.0

[Golftech]

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

yes you can stop lost in coinbase here is the guide I found https://help.coinbase.com/en/pro/trading-and-funding/orders/overview-of-order-types-and-settings-stop-limit-market just read every thing  so you will understand how it works . I hope it helps.

Great, this will help not only OP but everyone who also have same question in regards to this particular exchange, stop loss most of the time
helps traders to position their target amount.

Knowing much deeper into trading helps you to easily use and take benefits from this available tools. as long as you review the sentiments
of the market you'll be able to anticipate and configure your system.

[yangongear]

Yes, use stop-limit order every time you place an order to limit your losses. But some exchanges don't have that function, so you need to put an alert on tradingview some similar app, to close your order manualy. Manage your risk carefully.

[Mahanton]

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

yes you can stop lost in coinbase here is the guide I found https://help.coinbase.com/en/pro/trading-and-funding/orders/overview-of-order-types-and-settings-stop-limit-market just read every thing  so you will understand how it works . I hope it helps.

Great, this will help not only OP but everyone who also have same question in regards to this particular exchange, stop loss most of the time
helps traders to position their target amount.

Knowing much deeper into trading helps you to easily use and take benefits from this available tools. as long as you review the sentiments
of the market you'll be able to anticipate and configure your system.

It is indeed helpful because you do put up limits on how much loss you would able to take on a specific trade which would really be a nice tool to have specially when you are daytrading and same as others said when you are aiming for long terms swings then this is somewhat not really much preferable to use because few percentage set of your stop loss can easily be hit up on a single swing of price volatility.
I do know that most platforms do have this kind of feature because this had been commonly used by most traders or they do seek of.

[DoublerHunter]

Hi all

is it possible to put a stop loss on a bought coin after you have bought it ? Just wondering because i am still learning and have only just come across stop loss. I use coinbase pro - is it possible on there?

^ There is a blog post from Coinbase pro on how to stop-loss and limit orders, https://help.coinbase.com/en/pro/trading-and-funding/orders/overview-of-order-types-and-settings-stop-limit-market. But this is very crucial if you are a newbie that did not understand. First, you need to understand and how to execute this in the Coinbase pro in the market. Nevertheless, I wonder why you choose this Coinbase for your trading, there are too many good exchanges out there, like Binance and Poloniex they had a stop-loss learning webpage.
https://support.poloniex.com/hc/en-us/articles/360040029993-Stop-Limit-Orders-Explained
https://academy.binance.com/tutorials/what-is-a-stop-limit-order