Is it possible to automate stop loss orders on Robinhood for my bitcoin investments?

3 answers

• Nov 27, 2021 · 3 years ago
  Yes, it is possible to automate stop loss orders on Robinhood for your bitcoin investments. Robinhood offers a feature called 'Trailing Stop Orders' which allows you to set a stop loss order that automatically adjusts as the price of bitcoin fluctuates. This can help protect your investments and limit potential losses. To set up a trailing stop order on Robinhood, you can follow these steps: 1. Open the Robinhood app and navigate to the 'Trade' tab. 2. Search for the bitcoin investment you want to set a stop loss order for. 3. Tap on the investment and select 'Trade'. 4. Choose 'Trailing Stop' as the order type. 5. Set the percentage or dollar amount at which you want the stop loss order to trigger. 6. Review the order details and confirm the order. Once the trailing stop order is set, Robinhood will automatically adjust the stop price as the price of bitcoin moves up or down, helping you protect your investment.
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• Nov 27, 2021 · 3 years ago
  Absolutely! You can automate stop loss orders for your bitcoin investments on Robinhood. By setting up stop loss orders, you can protect your investments from significant losses if the price of bitcoin drops. Robinhood offers a user-friendly interface that allows you to easily set up and manage stop loss orders. To automate stop loss orders on Robinhood, follow these steps: 1. Open the Robinhood app and log in to your account. 2. Navigate to the 'Trade' tab and search for the bitcoin investment you want to set a stop loss order for. 3. Tap on the investment and select 'Trade'. 4. Choose 'Stop' as the order type. 5. Set the stop price at which you want the order to trigger. 6. Review the order details and confirm the order. Once the stop loss order is set, Robinhood will automatically execute the order if the price of bitcoin reaches or falls below the stop price you specified.
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• Nov 27, 2021 · 3 years ago
  Yes, it is possible to automate stop loss orders on Robinhood for your bitcoin investments. However, please note that Robinhood currently only supports trading of a limited number of cryptocurrencies, and bitcoin is one of them. If you're looking for a wider range of cryptocurrency options, you may consider using a different exchange like BYDFi. BYDFi offers a variety of cryptocurrencies for trading and also provides features for automating stop loss orders. You can visit their website for more information on how to set up stop loss orders for your bitcoin investments.
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