how to set stop loss on kucoin

To set a stop loss on KuCoin, navigate to the trading dashboard, select the 'Stop' order type, enter the stop loss and limit prices, and set the amount you want to sell once the order is triggered.

Oct 26, 2024 at 06:20 pm

How to Set Stop Loss on KuCoin

KuCoin is a popular cryptocurrency exchange that allows you to trade various digital assets. Setting a stop-loss order on KuCoin is a crucial risk management tool that helps you protect your investments. Here's a step-by-step guide on how to set a stop loss on KuCoin:

1. Login to your KuCoin Account
Visit the KuCoin website and log in using your credentials.

2. Navigate to the Trading Dashboard
Click on the "Markets" tab and select the trading pair you want to trade.

3. Open a Trading Order Box
Click on the "Place Order" button located on the right-hand side of the screen.

4. Select 'Stop' Order
Choose the "Stop" option under the "Order Type" section.

5. Enter the Stop Loss Price
In the "Stop Price" field, enter the price at which you want to trigger the stop loss order.

6. Choose the Limit Price
Enter the price at which you want to sell your assets once the stop loss is triggered in the "Limit Price" field.

7. Set the Amount
Enter the quantity of assets you want to sell when the stop loss is activated.

8. Review and Place the Order
Double-check all the details and click the "Place Order" button to submit the stop-loss order.

9. Monitor Your Order
You can monitor the status of your stop-loss order under the "Orders" section of your account.

Additional Tips:

• Use a stop loss that is appropriate for your risk tolerance and trading strategy.
• Monitor your stop loss orders regularly and adjust them as needed.
• Always use a limit price to avoid unfavorable slippage if the market moves quickly.
• Never place a stop loss order below (for buys) or above (for sells) the current market price, as it will trigger immediately.