How can I set up a stop loss option for my cryptocurrency trades on Robinhood?

1 answers

• Dec 15, 2021 · 3 years ago
  Absolutely! Here's a step-by-step guide to setting up a stop loss option for your cryptocurrency trades on Robinhood: 1. Open the Robinhood app on your mobile device. 2. Navigate to the 'Invest' tab and select the cryptocurrency you want to trade. 3. Tap on the 'Trade' button. 4. In the order form, choose 'Stop' as the order type. 5. Enter the stop price at which you want the order to be triggered. 6. Specify the quantity of cryptocurrency you want to sell. 7. Review the order details and tap 'Review' to confirm. 8. Finally, tap 'Submit Order' to place the stop loss order. Please note that setting a stop loss order does not guarantee that your trade will be executed at the exact stop price. Market conditions and liquidity can affect the execution. If you have any further questions, feel free to ask! I'm here to help.
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