How do you step up stop loss

[LordMiguel]

A novice will always ask a novice question. stop loss is a means of mitigating loss in the market. i am still battling on how to apply stop loss in my trade.
 a representation of how stop loss is been applied can be found here
STOP________
PRICE________
SIZE OR AMOUNT OF TOKEN TO SELL_______

I always think that "STOP" is the current price of the token in the market.

i also think that " PRICE" is the actual price you want to sell immediately the stop price is reached or activated.

i think that "SIZE OR AMOUNT" is the number of token you want to sell.


Guys am i right  or wrong.
please help a new trader.

[1715072318]

1715072318

[1715072318]

1715072318

[1715072318]

1715072318

[Little Mouse]

You said stop is the current price which isn’t true. Stop is the price at where you think price will go lower and you want to sell around it. Well, you have done the correction in the Price option.
I'm not a good trader too. I learned one thing-
Stop- should be lower than the support price because if support price crosses, chances is it will go far lower.
There are lots of other factors you should be aware of before you use stop loss.

[odolvlobo]

It is not clear what you want to do. This pages explains all the types of orders: https://www.investopedia.com/terms/o/order.asp

In a stop loss order, you instruct the exchange create a market order to exit your position if the price reaches the value you specify.

In a stop limit order, you instruct the exchange create a limit order to exit your position if the price reaches the value you specify. The limit order is executed at the limit or better, or not at all.

[decodx]

Maybe he's thinking of a trailing stop / stop-loss combo order.

If this is the case, not all exchanges support this type of order. They are most commonly available in leverage markets.

[janggernaut]

From OP post, i think he is trying to determine what's setup for stop lose on his bot trading and he still struggling to set it because he is still newbie.
Unfortunately i'm always using manually when i want to trade OP, i also just trade rarely and prefer to keep my coin in long term instead trade it on daily or short-term

[BIN-BIN]

You are totally wrong, the current price stands as the price the token you are trading was last bought and most time that is the price that it can be sold at that moment unless you are willing to go below that price. You will have to manually set the stop price which will be a little above your selling price.

[Charles-Tim]

<...>

Assumimg, bitcoin is at $50500, you set the STOP at $50100, and the price at $50000. That means if the price of bitcoin drop from $50500 to $50100 or below but yet above the price you set ($50000), the order will be filled and the coin will be sold at $50000. But, in this case, it ought to be like this.

Stop price= $50100
Price = $50000

But, very possible some exchanges set it the way you inputted it here, it will be good if you represent it the way the exchange you are using do.

If this is the case, not all exchanges support this type of order. They are most commonly available in leverage markets.

That is how stop loss should look like, but it may differ the way it is from an exchange to another but all the same.

[Saniati]

 Set as that stop loss
How much loss can you take.when you buy coin after then you think it may down then you can set stop loss  like this 👇
Buy price BNB 250
Stop loss price 240 (it’s depend on you how much you can take)