How to use Stop-loss triggers on Byte Exchange

Learn how to use stop-loss triggers on the Byte Exchange application with this comprehensive guide. Follow the instructions below to effectively set up and manage stop-loss orders to protect your investments.

Click on Markets tab to explore trading pairs.

Select a trading pair you want to trade

Select the "Stop" tab on trading pane

Choose the "Stop Limit" or "Stop Market" option. Stop-limit orders are similar to stop-loss orders. But as their name states, there is a limit on the price at which they will execute. There are two prices specified in a stop-limit order: the stop price, which will convert the order to a sell order, and the limit price. Instead of the order becoming a market order to sell, the sell order becomes a limit order that will only execute at the limit price or better.

On Stop Limit or Stop Market order types you have to take care of stop price in certain conditions. For example on Buy side if you want to set a stop limit order, Stop Price must be less then asset price and stop price must be greater then last traded price. On sell side this conditions are similiar however prices should be reversed.

Amount bar is useful for quick order executions in addition this bar also sets asset price on price bar so you don't need to check asset price manually.

On the price tab you can adjust your price as desired

You can check "Last Traded Price" on orderbook.

You can set stop price according to conditions mentioned on the info icon.

Set amount of desired assets on this tab for trade

Click on Buy or Sell button to execute stop triggers and trade

See your trade and trigger conditions on Open Orders Pane

Click on order history to see your order status and current position.

In this guide, you learned how to use stop-loss triggers on the Byte Exchange application. By following the step-by-step instructions, you can easily set up and manage stop-loss orders to safeguard your investments. Take control of your trading strategies and minimize potential losses with this powerful feature.

You can find more stop loss strategies bu clicking here