How to Set Stop-Loss on Bitcoin Mobile85

Stop-loss orders are an essential risk management tool for any trader, and they are just as important when trading Bitcoin on your mobile phone as they are when trading on a desktop computer. A stop-loss order allows you to set a price at which your position will be automatically closed if the market moves against you, helping you to limit your losses.

There are a few different ways to set a stop-loss order on a Bitcoin mobile app. The most common method is to use the "stop" or "stop-limit" order type. When you create a stop-loss order, you will need to specify the price at which you want the order to be triggered, as well as the price at which you want the order to be executed. For example, if you are long Bitcoin and want to protect your profits, you could set a stop-loss order at a price below the current market price. If the market price falls to your stop-loss price, the order will be triggered and your position will be closed.

Another way to set a stop-loss order on a Bitcoin mobile app is to use the "trailing stop" order type. A trailing stop order moves with the market price, so it can help you to protect your profits even if the market price continues to rise. To create a trailing stop order, you will need to specify the amount of pips or percentage points that you want the stop-loss order to trail behind the market price. For example, if you are long Bitcoin and want to protect your profits, you could set a trailing stop order 50 pips below the market price. If the market price rises, the stop-loss order will move up with it, so you will only be stopped out if the market price falls by more than 50 pips.

No matter which method you choose, setting a stop-loss order is an important part of risk management when trading Bitcoin on your mobile phone. By using a stop-loss order, you can help to protect your profits and limit your losses.

Here are the steps on how to set a stop-loss on Bitcoin mobile:1. Open your Bitcoin mobile app and log in to your account.
2. Find the "Orders" tab and tap on it.
3. Tap on the "New Order" button.
4. Select the "Stop" or "Stop-Limit" order type.
5. Enter the price at which you want the order to be triggered.
6. Enter the price at which you want the order to be executed.
7. Tap on the "Place Order" button.
Your stop-loss order will now be active and will be triggered if the market price moves against you.

2025-01-20

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