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Author Topic: bitcoinica liquidation question  (Read 798 times)
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May 11, 2012, 06:23:38 AM

Newbie bitcoinica question here:

If i'm sitting on a short position in bitcoinica, and i want to liquidate at a certain price, which bitcoin has not fallen to yet, is there a way to set this up in advance? For example, say i want bitcoinica to auto liquidate me if bitcoin falls to $4.50. Is this just the same as a limit buy at $4.50?

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May 11, 2012, 06:41:56 AM

Yes, if you are short and if Bitcoinica is applying conventional trading terminology, then a limit buy order would be filled at 4.50 or better. A buy stop order would be placed above the current market price to protect your short position against an adverse move.

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I also cover the bitcoin economy for Forbes, American Banker, PaymentsSource, and CoinDesk.
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