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2815449 No.2815449 [Reply] [Original]

I have a newbie question here.
Have I understood the stop-loss function of Bittrex correctly?

If the BTC/USTD hits less than or equal to 2300, it will automatically attempt to sell my BTC holdings at an asking price of 2295?

I'm used to stocks, but this crypto-thing is pretty fun.

>> No.2815511
File: 5 KB, 225x225, waitwhat.jpg [View same] [iqdb] [saucenao] [google]
2815511

>>2815449
>I'm used to stocks
>gets the stop-limit of bittrex wrong

>> No.2815535

>>2815511
Yeah, I've never used automatic stop-loss.
Since I follow my stocks daily and all my stock picks are long term I never bothered using
automatic stop-loss.

>> No.2815642

>>2815511
Could you tell me what's wrong then?

>> No.2815668
File: 690 KB, 850x464, 1496509942210.png [View same] [iqdb] [saucenao] [google]
2815668

>>2815449
looks fine anon.
I would probably put them like 1 or 2 dollars apart but I dont think that really matters since bittrex will give you the best sell price currently there better then 2295 . . .

>> No.2815674

>>2815449
Anon why would you sell for 2295 when the price is @ 2300?

>> No.2815682
File: 119 KB, 566x595, wasted.jpg [View same] [iqdb] [saucenao] [google]
2815682

>>2815449
>Market fluctuates violently.
>Set up a stoploss
>Bitrex sells your wallet
>Dip immediately stops and moons
>wake up and find you just lost a fortune.

>> No.2815687
File: 363 KB, 480x270, happy.gif [View same] [iqdb] [saucenao] [google]
2815687

>>2815674
>>2815668
Oh, I didn't actually mean to set the price like that.
I just wanted to know if I understood it correctly, haha.
Thanks, guys.

>> No.2815698

>>2815449
Only use stop lose on shit coins

>> No.2815700

>>2815535
Cryptos are different, stop limits can save your ass.

You have 2 prices:
a) the trigger price
b) the price for the sellorder

If the trigger is "passend", the sell/buyorder at the given price is opened.

And yes, you made it correct. Only that the amount is a bit low - I would go to 2290, just to make sure to sell if as soon as it crashes.

>> No.2815703

>>2815682
This is also my greatest fear.
But I just really want to avoid a violent dip and continuing downward trend while I'm asleep.

>> No.2815708

>>2815682

>would KYS over $10

How have you survived this long?

>> No.2815714
File: 31 KB, 429x547, Laughing Jesus.jpg [View same] [iqdb] [saucenao] [google]
2815714

>>2815703
Then while you sleep you can take comfort that you are holding.

>>2815708
my face

>> No.2815759

>>2815714
>Then while you sleep you can take comfort that you are holding.
In my case I'd be sleepless knowing that BTC might be subject to a flash crash or the like if I fall asleep.

>> No.2815849

>>2815700
Do coins ever stay at shit values though permanently? Isn't it better to stay in for longer, until rebounds? Surely there has to be a rebound, it can't be possible to stay bagholding forever

>> No.2816173

>>2815449
LET ME GIVE YOU 1 TIP YOU DUMB FUCK.

Never ever ever ever ever set a stop loss in crypto or YOU WILL get fucked over by flash crashes.

>> No.2816417
File: 308 KB, 1788x782, Capture.png [View same] [iqdb] [saucenao] [google]
2816417

>>2815849
you cannot fall into that trap.

You need to recognize the two phases of the market, on a wide scale.

the run up, and the run down.

On the run, there are clear bottom points for the trend. You obviously cannot see where the trend is when it just starts, but after 2-3 dips, you should have a clear picture of the market.

Stop losses just under/above the line, depending on long or short. The moment that wide scale trend is broken, you cannot "hodl" like a faggot anymore.

In my picture siacoin is an example, very obvious uptrend line, very obvious down trend line break.

Every false rally on the way down NEVER made it back up to the previous plateau. You never got the chance to just break even. So yes, use stop losses, but you need TA to place them or you're just a guessing retard.