How can I effectively use stop loss orders on Coinbase Pro to protect my digital assets?

1 answers

• Mar 06, 2022 · 3 years ago
  Using stop loss orders on Coinbase Pro is a smart move to protect your digital assets. Here's a simple guide to help you: 1. Log in to your Coinbase Pro account and go to the trading page. 2. Select the trading pair you want to set a stop loss order for. 3. Click on the 'Stop' tab. 4. Enter the stop price, which is the price at which you want your order to be triggered. 5. Specify the amount of cryptocurrency you want to sell or buy when the stop price is reached. 6. Choose the order type, either market or limit order. 7. Review your order details and click on 'Place Order' to submit your stop loss order. By using stop loss orders, you can protect your digital assets from significant losses in case of market downturns. It's important to set your stop price and amount carefully, considering your risk tolerance and trading strategy. If you need any further assistance, feel free to ask.
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