When trading and wanting to automatically sell when it reaches a certain rate...

[9thsky]

Is it guaranteed to sell at that rate?

Let me explain...

Say I want to sell 1 btc when the rate reaches $35,000. It is now $32,000. I believe it's called a "stop loss order"? Correct me if I'm wrong. Would it automatically sell at that rate when it reaches it, or does it depend on if somone is willing to buy or not, and it might not sell if there are no buyers? If that's the case, is there a method or a platform where it would automatically sell (similar to how you would sell on coinbase) when it reaches a predetermined rate?

[1714920741]

1714920741

[joniboini]

A Stop-loss order basically means you're selling when the current price is lower than your initial buy price. If you're doing leverage trading it could be the opposite, depending on your position. Most exchanges will automatically put an order on your behalf, and as you already mentioned whether it will get executed or not will depend on whether there is a buyer or not. There might be some platform that supports instant exchanges like Coinbase (basically they're integrating with multiple liquidity providers/order book, so it technically still depends on "buyers"), but it will depends on where you live. US customers might not have that many options.

[youdacapt]

Is it guaranteed to sell at that rate?

Let me explain...

Say I want to sell 1 btc when the rate reaches $35,000. It is now $32,000. I believe it's called a "stop loss order"? Correct me if I'm wrong. Would it automatically sell at that rate when it reaches it, or does it depend on if somone is willing to buy or not, and it might not sell if there are no buyers? If that's the case, is there a method or a platform where it would automatically sell (similar to how you would sell on coinbase) when it reaches a predetermined rate?

At first, there is not guarantee in the crypto currency markets; if there were guarantees; there would not be any reason for losses or profits.
Secondly; yes stop loss order exists on all centralized exchanges; this stop loss order helps you to set your sell order price; and also a stop loss order price that stops your trading in case of a price dump.
Thirdly, i do not think such features exists on coinbase, because i do not use it

[9thsky]

Thanks for your inputs guys. Apparently a stop loss order is slightly different than what I was looking. How can I achieve what I described in the OP?
I want to sell automatically at a predefined rate in case I do not see it when it reaches that rate in order to do it manually (e.g I was sleeping).

[lebregone]

I guess you are asking here about the stop loss scenario, if you have a tool that can execute the stop loss scenario then it will automatically sell your bitcoin when it  reaches to your stop loss rate.

The buyer is always there as it is how the market works and if the price goes down, it only means that there are more buyers compare to sellers and in btc trade. Buyers are always there so you don't need to worry that there will be no one to buy your bitcoin if it reaches to your stop loss rate.

[palle11]

Thanks for your inputs guys. Apparently a stop loss order is slightly different than what I was looking. How can I achieve what I described in the OP?
I want to sell automatically at a predefined rate in case I do not see it when it reaches that rate in order to do it manually (e.g I was sleeping).

I think what you could be asking for is either a trailing stop or simply a take profit.

A trailing stop follows the market as it moves, it takes you out as soon as there is a reversal before it get to your entry. Then take profit is set to a point that you want to take profit. And both are automatic trading that when you are not there, you orders are taken. I don't know if this helps.

[Wexnident]

Thanks for your inputs guys. Apparently a stop loss order is slightly different than what I was looking. How can I achieve what I described in the OP?
I want to sell automatically at a predefined rate in case I do not see it when it reaches that rate in order to do it manually (e.g I was sleeping).

It's actually stop loss afaik, just that stop loss is generally used to limit your losses. Meanwhile, you're pretty much using it to profit, so that when the price spikes up to that price, you can exit the market so as to avoid possible losses, e.g, the price you sold was the peak and it went downtrend immediately while you were sleeping.

Stop loss is basically waiting for someone to put an order that matches your order, e.g, buy BTC at $xx while your is sell BTC at $xx. It automatically matches most orders that match your requirement and fills it up until your order is basically done afaik.

[mk4]

Nope. What you need is just a typical sell order. If you wanted to sell it at $35k, simply just set a sell offer for $35k and your bitcoin will automatically be sold if it's the case that bitcoin reached that price.

Stop loss orders are more for controlling risk. Let's say that the price is $35k, and if bitcoin drops to $32k you want your bitcoin to automatically be sold because of the fear that it might drop lower. That's when it makes sense to use a stop loss order; hence the name "stop loss", to hopefully stop potentially losses.

[maydna]

If you want to sell 1 btc when the rate reaches $35,000 while the price now $32,000, that means you will use stop-profit order and not a stop-loss order. You can do what @mk4 suggests, so when the price reaches $35k, your order will automatically fill. But if the price stops at $34,999 and backs down slow or fast, your order sell will not fill, and you need to wait for another time until the price can reach your order sell price.

It happens to all of my coins because I always set a price to sell and leave it until it fills. When the price can increase and hit my order sell price, it will automatically sell at that specific price and amount. If the order buy amount at the market is not too big or small as my amount, my order sell will not sell all of the amounts, and it will wait for another time.

Stop-loss order used if you are afraid of the downtrend while you can't watch the market moves too deep. For example, the price now is $32,000, and you don't want to get too big losses in the unpredictable market. So you decide to place the stop-loss order at $31,200. So when the price down and touch $31,200, your order sell price will fill automatically while you don't watch the market. When you back to the market and the price now is at $30k, you can directly buy back Bitcoin at the current price or set an order buy at another lower price. I hope it helps.

[bassbity]

I didn't find anything on Coinbase to place Stop-loss trades. Coinbace-based instant exchanges are rewarded on the premises, which charge low fees. Coinbase can be said to be a wallet that is equipped with an exchange at once.
Stop-losses are more effective in centralized exchanges so we can find out the lowest and highest prices. If you stop losing using a stop-loss, then whose wallet will it go to?

[monatana]

the possibility that if you put a stop loss will pick up at a price of 31950$ because sometimes I am like that too

[hugeblack]

If the above answers are not enough for you then Binance has an academic program that enables you to learn these things. I will quote some articles:

 - https://academy.binance.com/en/articles/what-is-a-stop-limit-order
 - https://www.binance.com/en/support/faq/360040016512-How-to-Place-Stop-Loss-Order-and-Take-Profit-Order

Then you can find tons of educational videos on YouTube.

The essence of trading depends on building a strategy, which determines what orders are appropriate for you and how to place them. Trying to stop your losses just because the price has decreased will lead to you losing.

[GreatArkansas]

@Mk4 is right, but stoploss order may still achieve same output, you may use it as profit order too, but it will be the same result with limit sell order.
For OP, incase you don't know that there are 2 types order too, a market order and limit order.
If you do market order at $35,000, sometimes it may not totally  sell on that price, especially if the market fluctuate, but using limit order, it will indeed trigger and filled at specified price.

[9thsky]

Thank you everyone! Never ceases to amaze me how great of a community this place is!

Nope. What you need is just a typical sell order. If you wanted to sell it at $35k, simply just set a sell offer for $35k and your bitcoin will automatically be sold if it's the case that bitcoin reached that price.

Stop loss orders are more for controlling risk. Let's say that the price is $35k, and if bitcoin drops to $32k you want your bitcoin to automatically be sold because of the fear that it might drop lower. That's when it makes sense to use a stop loss order; hence the name "stop loss", to hopefully stop potentially losses.

Wouldn't a stop loss order, technically, achieve the same thing, like @GreatArkansas said? Yes, they were created for different reasons but don't they do the same thing? What would be the downside of using a stop loss for what I'm asking instead of a sell order?
Also, could you recommend trading platforms that are the safest and most user friendly. I know there are tons, but which are the top ones?

And finally, you guys use the term your order "fills", does that mean that there is a possibility that only some of the bitcoin would be sold and the rest not? So for example if I set a sell or stop order for 1 btc, could only 0.1 btc from it be sold automatically and then I'd have 0.9 btc left?

[mk4]

Wouldn't a stop loss order, technically, achieve the same thing, like @GreatArkansas said? Yes, they were created for different reasons but don't they do the same thing? What would be the downside of using a stop loss for what I'm asking instead of a sell order?
Also, could you recommend trading platforms that are the safest and most user friendly. I know there are tons, but which are the top ones?

And finally, you guys use the term your order "fills", does that mean that there is a possibility that only some of the bitcoin would be sold and the rest not? So for example if I set a sell or stop order for 1 btc, could only 0.1 btc from it be sold automatically and then I'd have 0.9 btc left?

A typical limit sell order is going to sell your assets at the specified price or better. If the price is at 35k and you set a limit sell order at 32k, since 35k is a “better” price then it would be sold at that  price.

As for the fills, then possibly yes. It’s possible for you to have a 1 btc sell offer at 32k and only .5 would be bought before the price bounces back up to 33k or higher.

[Reid]

Nope. What you need is just a typical sell order. If you wanted to sell it at $35k, simply just set a sell offer for $35k and your bitcoin will automatically be sold if it's the case that bitcoin reached that price.

Yeah, that what I thought.
Maybe it was confused with "stop-loss" because he used it in his opening thread.

It's just a simple sell order which doesn't need to be maintained or be monitored.
When it hits that price and someone buys it then it will just stay in your account with nothing else to do but wait for you to wake up. 

[bitgolden]

Wouldn't a stop loss order, technically, achieve the same thing, like @GreatArkansas said? Yes, they were created for different reasons but don't they do the same thing? What would be the downside of using a stop loss for what I'm asking instead of a sell order?
Also, could you recommend trading platforms that are the safest and most user friendly. I know there are tons, but which are the top ones?

And finally, you guys use the term your order "fills", does that mean that there is a possibility that only some of the bitcoin would be sold and the rest not? So for example if I set a sell or stop order for 1 btc, could only 0.1 btc from it be sold automatically and then I'd have 0.9 btc left?

I would say binance as the safest and the most user friendly, they are the biggest and they make billions of dollars revenue per year, they are definitely the greatest exchange we have ever seen in the crypto world and so far nobody did it as good as they did.

In the other part, sell order is actually selling something, and sure it will put your money at that level and will wait, that means if you have 1 bitcoin, you are putting it on sell at 32k and waiting for it to be sold there, but if the price is higher than that, you need stop loss because if the price is 35k and you put it on sale at 32k.. that doesn't look right right? That is way when the price is higher and you want lower sell that is stop loss, when it is lower but you want to sell higher that is sell order, those are the usual differences if I am not wrong, if I am wrong then please someone correct me so I can learn as well.

[electronicash]

a sell order when the price hits $35,000.

you just need an order for that a buy order and a sell order will automatically do it for you if need it done without you having in front of the monitor. as long as you know the price to sell it, you just indicate it on the bid box. stoploss will be on the futures/leverage trading that before you get a margin call, you better get out and stop the loss.

[9thsky]

Wouldn't a stop loss order, technically, achieve the same thing, like @GreatArkansas said? Yes, they were created for different reasons but don't they do the same thing? What would be the downside of using a stop loss for what I'm asking instead of a sell order?
Also, could you recommend trading platforms that are the safest and most user friendly. I know there are tons, but which are the top ones?

And finally, you guys use the term your order "fills", does that mean that there is a possibility that only some of the bitcoin would be sold and the rest not? So for example if I set a sell or stop order for 1 btc, could only 0.1 btc from it be sold automatically and then I'd have 0.9 btc left?

I would say binance as the safest and the most user friendly, they are the biggest and they make billions of dollars revenue per year, they are definitely the greatest exchange we have ever seen in the crypto world and so far nobody did it as good as they did.

In the other part, sell order is actually selling something, and sure it will put your money at that level and will wait, that means if you have 1 bitcoin, you are putting it on sell at 32k and waiting for it to be sold there, but if the price is higher than that, you need stop loss because if the price is 35k and you put it on sale at 32k.. that doesn't look right right? That is way when the price is higher and you want lower sell that is stop loss, when it is lower but you want to sell higher that is sell order, those are the usual differences if I am not wrong, if I am wrong then please someone correct me so I can learn as well.

How do you withdraw/cash out on Binance and is Binance a trading platform like Coinbase Pro or is it like Coinbase?

[doctor877]

you will need to set a sell order whenever the current price is below the price you want to sell. so when you set an order to sell at that price, it will be sold. because buying and selling is going on everytime, your orders will be picked by someone who is willing to buy at that price also.