Buying The Coins
- A stop buy order is used to purchase the coins
- The entry price is the trigger
- The system checks for the price of the coin to be Less than or Equal to this value
- A market buy order is placed when the trigger condition is met
- If you enable the 'Market Buy' option, the system will buy the coins at the current market price.
Related article: What is laddering and how do you ladder entry prices
Selling The Coins on Target
- A stop sell order is used to sell the coins
- The target price is the trigger
- The system checks for the price of the coin to be Greater than or Equal to this value
- A market sell order is placed when the trigger condition is met
Stop loss, Breakeven and Price to Follow
- A stop loss order is used to sell the coins when the trade goes badly
- The stop loss price is the trigger
- The system checks for the price of the coin to be Less than or Equal to this value
- A market sell order is placed when the trigger condition is met
Note:
Stop loss break even is ON by default.
Learn more about breakeven stop loss in this article: What does 'Breakeven' Stop Loss do?
Price to follow = Last price by default
Why are these the basic settings?
- This provides the simplest interface for a beginner to understand.
- Market orders mean that you always buy and sell the amount intended which reduces confusion.
- Last price to follow is less confusing as it matches the price charts found online.