stop loss and take profit

[david678345]

Hi I wanted to use bitget spot as they seem to have a promotion that allows you to trade commission free.
Lately I have been using bitget futures, and I was using take profit and stop loss orders. But it seems that bitget spot does not have these take profit and stop loss options.

But watching a video of how limit orders work in bitget...I understand that the sell limit orders in bitget spot perform the same function as bybit take profit...or am I wrong?

And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

also last question it seems that is not possible to do trailing stop loss in bitget spot, right?

[palle11]

Is not all trader that can verify your question to give an answer because they may not be using those platforms but what I know about stoploss, take profit or trailing stop is that they perform the functions as they are called in different platforms if you set them correctly including buy stop, sell stop, sell limit, buy limit if the platform have them. However you can ask the support of your platform to be sure.

[Oshosondy]

What I post is mainly seen in future trading, not mostly seen on spot trading on most exchanges.

And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

I am not a user of the platforms that you mention, but maybe this would help.

If you see anything like this: TP/SL (take profit/ stop loss). In a way you can check ✔️ it. You will be able to include the stop loss and take profit.

Another is after you have opened the order, you can see the stop loss and take profit.

Or click on close order of the position opened, but select 'limit', (not 'market'). Limit order would let you to select the price you want the order to close. You can set as many as possible closing limit orders to favour both stop lose and take profit, but on some exchanges, you can only open one which can be either favoring stop lose or take profit.

[palle11]

Or click on close order of the position opened, but select 'limit', (not 'market'). Limit order would let you to select the price you want the order to close.

This depending on the platform use. Some platform when you click on close order it pops with different options below it depending on what they have in the platform, so you could see close order, modify order, new order, charts etc. It depends on what platform.

You can set as many as possible closing limit orders to favour both stop lose and take profit, but on some exchanges,

This is surely a way of losing. Many orders or clustered kinds of options leads to confusion and op looks like a newbie may not be able to handle it. Staying with few understandable options is better.

you can only open one which can be either favoring stop lose or take profit.

This is cool. To trade with few options has more advantage except for the risk takers that goes for higher profit.

[xzy887]

Are you talking about spot trade or stop loss? If talking about stop loss and if it is bidgate exchange then I would say see if you find TP/SL text while trading there if not then maybe there is no stop loss system. And if you want to trade professionally then there are many better exchanges like Binance and you will find many options there and you can easily use stop loss.If you don't understand other exchanges, you can directly start trading on Binance and you can easily set stop loss there and you will have profit even if you are offline.And if you can't use Binance Stop Loss, then you can directly watch videos on YouTube to use Binance Stop Loss. Hope you find it useful

[DanWalker]

Hi I wanted to use bitget spot as they seem to have a promotion that allows you to trade commission free.
Lately I have been using bitget futures, and I was using take profit and stop loss orders. But it seems that bitget spot does not have these take profit and stop loss options.

But watching a video of how limit orders work in bitget...I understand that the sell limit orders in bitget spot perform the same function as bybit take profit...or am I wrong?

And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

also last question it seems that is not possible to do trailing stop loss in bitget spot, right?

Is this the new derivatives exchange?
I have heard about this new exchange but unfortunately I do not have an account because I am not in the habit of joining a new exchange. I think people here have never used this exchange, so it is difficult to give you an answer.

All exchanges have online and telegram support teams to answer questions for their users. You can ask them directly on the telegram group or you can chat directly with the support staff on their homepage to get the most accurate answer.
This is the futures trading group:
https://t.me/+mgmQzMqM3cg0YmJl

[pgbit]

Stop loss is an option where you can set two prices below the current price of any coin you have taken from the market to avoid loss, one is the stop price and the other is the limit price.That is, when the market price reaches the stop price, then your sell order will be placed at the price you have entered the limit order.You should keep the limit price slightly lower than the stop price so that your order is completed quickly۔How to set take profit. Here we have to select the limit and enter the price and amount here. And the price at which you bought the coin Increase the price and put it on sell in limit option. and as soon as the price increases and your sell limit touch, your tokens will be sold in profit.

[TWW]

to be honest I don't know the trading platform. but if you are comfortable and confident with the platform I think you will like it. especially with commission-free trading. it is profitable for day trading.

if see your statement, I'm sure you are also new to this platform. learn more about terms and use of tools on the platform. there must be support, you can ask for a better explanation there. I don't think there are many members here or maybe many are avoiding the new exchange platform. unless you're asking about a familiar exchange.

[Oshosondy]

You can set as many as possible closing limit orders to favour both stop lose and take profit, but on some exchanges,

This is surely a way of losing. Many orders or clustered kinds of options leads to confusion and op looks like a newbie may not be able to handle it. Staying with few understandable options is better.

You do not understand what I meant. That it could be the only option to set TP/SL. On some exchanges, ones you set one (either TP or SL), you may not be able to set the other using the a certain limit price, just like on OKX. But that on some platform like Binance, that you can use it to create both stop loss and take profit order because you can set the limit price to any value, be it positive (profit) or negative (loss) to set the take profit or stop loss. So if used for take profit, it can also still be used differently to set stop loss after take profit has been set.

[Rufsilf]

Hi I wanted to use bitget spot as they seem to have a promotion that allows you to trade commission free.
Lately I have been using bitget futures, and I was using take profit and stop loss orders. But it seems that bitget spot does not have these take profit and stop loss options.

But watching a video of how limit orders work in bitget...I understand that the sell limit orders in bitget spot perform the same function as bybit take profit...or am I wrong?

And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

also last question it seems that is not possible to do trailing stop loss in bitget spot, right?

I wasn't really familiar with this platform. Maybe that kind of complaint or whatever it is must be sent to their support system for verification as certainly they would answer it as long as they legally operated or that something they need to change on their platform. Perhaps, it was a lesson for you to do thorough research before using this platform. It is a must to be more familiar with it or else, you will just realize that you fall into the wrong platform.
I think you need to check, maybe you just miss it, it happens all the time.

[rhomelmabini]

Well, if they don't have that feature then you'll have to accept that fact or maybe they are planning to add it in the future. For Binance they have these so-called "Stop-Limit" and "Trailing Stop" for the spot market and if you are using the app even on mobile it has description on what are the usage of these features.

[GxSTxV]

With my knowledge in trading, i don’t think that stop loss and take profit are the same with buy limit or sell limit, the first ones is levels you set for your order to stop with loses or profits, the others are level to set on a preorder and the price on the time you set you limit order didn’t reach that level. And bybit is a large big platform i think they should have both features as they welcome many traders daily.

[Hamza2424]

Dear in future trades stop loss and book profit works very well you should always go with them to avoid high volatile market run as to avoid losses, i would like to say in Binance and other pro trading apps you can make Take profit to be split on different price tags and same thing you can do with the Stop loss, it will highly increase your post efficiency. Sometime in worst cases of a trade these small tools help a lot to avoid losses and if price increase for minimal time there these Stop position books profits for you.

[palle11]

With my knowledge in trading, i don’t think that stop loss and take profit are the same with buy limit or sell limit, the first ones is levels you set for your order to stop with loses or profits, the others are level to set on a preorder and the price on the time you set you limit order didn’t reach that level. And bybit is a large big platform i think they should have both features as they welcome many traders daily.

Your explanation is right on stop loss and take profit. That aside, limit orders are for intending orders that you want to enter for buy or for sell. They are good but their disadvantage is that they can trigger an order for you and price will continue the direction against you and you start losing your trade. Anyway it is used especially when you won't be able to monitor the trigger.

[The Cryptovator]

I am confused whether are you shilling bitget exchange or want to learn about stop loss. I haven't heard previously about bitget exchange and how it works. Stop loss should work the same way for all exchanges. Usually, we use stop loss to prevent loss during the huge dump. When hit stop loss token will be sold, so even more dump you won't lose your portfolio. However, I am not lucky on stop loss, once I set stop loss then the token price bump after hitting stop loss.

[Franctoshi]

Hi I wanted to use bitget spot as they seem to have a promotion that allows you to trade commission free.
Lately I have been using bitget futures, and I was using take profit and stop loss orders. But it seems that bitget spot does not have these take profit and stop loss options.

Though I don't use bitget but I guess the App has it, but seem you are unable to identify the button in the App, Too I guess that the issue you're facing is how to use it or maybe the kind of device you are operating makes it a bit confused for you to use it on the bitget exchange, this could be due to the fact that every exchange has their different user interface. I suggest you try using it on a PC to see if you gonna face same challenge.

But watching a video of how limit orders work in bitget...I understand that the sell limit orders in bitget spot perform the same function as bybit take profit...or am I wrong?
And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

Stop lose and take profits orders are the same all over every exchange, if you are a bit confused with how to navigate the process go watch more YouTube video tutorial on that and you will be fine with using it.

[Rigon]

While trading on the trading platform you must keep all aspects in mind while trading.Never make a mistake in trading platform if you make a mistake you will lose all your funds.Always use stop loss. One of the most important aspects of trading platforms is to use stop loss.If you can trade using stop loss then there is no possibility of you losing money on the trading platform.I would say you should always use stop loss in trading platform.

[AicecreaME]

I've never heard this platform but I'll give you my answer to that. Spot which I do believe, doesn't have any stop loss or take profit because you could sell or buy a coin in any price you want, leave it there after you made a trade and automatically it will be executed for you. Spot and futures has so many differences, the stop loss and take profit feature that futures has is because to avoid too much risk of liquidation, which is spot doesn't have.

[Questat]

And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

also last question it seems that is not possible to do trailing stop loss in bitget spot, right?

I hope that you were able to explore that particular exchange before using this because even me, that name Bitget is really new to me or my focus is just on known and reputable exchanges like Binance and Kucoin.
Well, I hope you could find an answer to that but I encourage you to even know more about this exchange. However, even you will say it is already on its feature, I have to say that I give no interest in this site as I'd rather stay to the exchanges that I feel secured.

[Eternad]

Hi I wanted to use bitget spot as they seem to have a promotion that allows you to trade commission free.
Lately I have been using bitget futures, and I was using take profit and stop loss orders. But it seems that bitget spot does not have these take profit and stop loss options.

But watching a video of how limit orders work in bitget...I understand that the sell limit orders in bitget spot perform the same function as bybit take profit...or am I wrong?

And is it possible with the sell limit orders in bitget to open a trade that is like a bybit stop loss?

also last question it seems that is not possible to do trailing stop loss in bitget spot, right?

Simple answer no. Because stop loss and take profit feature is for futures trading that requires open position to activate this kind of feature. There’s an alternative feature for spot trading that works like this which is the conditional order like like trailing stop buy and sell.

You need to buy first on spot before you can set limit buy and sell order that works like stop loss and take profit but trailing order is what you can use to have a range buy and sell on spot.