how to do stop loss on coinbase

To set a stop-loss order on Coinbase, navigate to the "Trade" page, select the trading pair, enter the stop-loss price, and submit the order.

Nov 04, 2024 at 01:13 pm

How to Set a Stop-Loss Order on Coinbase

Step 1: Open your Coinbase account.

Navigate to the Coinbase website or mobile app and sign in to your account.

Step 2: Go to the "Trade" page.

On the Coinbase website, click on the "Trade" tab. On the mobile app, tap on the "Trade" button in the bottom menu.

Step 3: Select the trading pair.

Choose the cryptocurrency pair you want to trade, such as BTC/USD or ETC/USDT.

Step 4: Click on the "Sell" button.

Locate the "Sell" section of the trading interface and click on the "Sell" button.

Step 5: Enter the stop-loss price.

In the "Sell" order form, you will see a field labeled "Stop Loss." Enter the price at which you want to sell the asset if it falls below a certain value.

Step 6: Select the order type.

For stop-loss orders, you should select the "Stop" order type. This type of order will only execute if the market price reaches or falls below the stop-loss price.

Step 7: Review and submit the order.

Review the details of the order, including the stop-loss price, order size, and order type. Once you are satisfied, click on the "Submit Order" button.

Example:

Let's say you own 1 BTC and want to set a stop-loss order to protect against a potential drop in Bitcoin's price. You could set a stop-loss order at $40,000. If the price of Bitcoin falls below $40,000, your order will be executed and you will sell 1 BTC at the market price.

Note:

• The stop-loss price can be adjusted at any time before the order is executed.
• Coinbase charges a trading fee for all executed stop-loss orders. The fee varies depending on the trading pair and the order size.
• Stop-loss orders are not guaranteed to be executed at the exact stop-loss price. If the market price drops rapidly, your order may be executed at a lower price.