How can I set up stop-loss orders to maximize my profits when selling crypto?

1 answers

• ALFREDO RUIZJun 19, 2021 · 4 years ago
  At BYDFi, we understand the importance of setting up stop-loss orders to protect your profits when selling crypto. Here's a step-by-step guide: 1. Choose a reliable exchange: Look for an exchange that offers stop-loss order functionality and has a good track record. 2. Determine your stop-loss level: Decide at what price you want your stop-loss order to be triggered. 3. Set your stop-loss percentage: Determine the percentage of loss you're willing to tolerate before triggering the stop-loss order. 4. Place your stop-loss order: Enter the stop-loss price and percentage into the order form on your chosen exchange. 5. Monitor the market: Keep an eye on the price movements and adjust your stop-loss order if necessary. By following these steps, you can maximize your profits and minimize potential losses when selling crypto on any exchange.
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