As digital currency exchanges go, Coinbase Pro is pretty great. It’s user-friendly, has a good mobile app, and is one of the most popular exchanges available.
But one thing that Coinbase Pro doesn’t have is the ability to set a stop-loss and limit sell at the same time. That’s not a huge dealbreaker, but it is something to be aware of if you’re thinking about using Coinbase Pro to trade digital currencies.
If you’re not familiar with stop-loss orders, they’re basically a way to limit your losses on a trade. For example, let’s say you buy a digital currency for $100 and you set a stop-loss at $95.
That means if the price of the digital currency drops to $95, your order will automatically sell at that price and you will lose $5 on the trade.
Limit sell orders are basically the opposite of stop-loss orders. They allow you to take profits on a trade when the price reaches a certain level.
NOTE: WARNING: Setting a stop-loss and limit sell at the same time on Coinbase Pro can be risky, as Coinbase Pro does not guarantee that both orders will be executed. There is a chance that one or both orders may not be executed due to market conditions or other factors. Therefore, it is important to understand the risks associated with this type of order before attempting it.
So, using the same example as above, let’s say you set a limit sell at $105. That means if the price of the digital currency goes up to $105, your order will automatically sell at that price and you will make $5 on the trade.
The ability to set both a stop-loss and limit sell would be useful because it would allow you to automate your trading strategy. For example, if you wanted to buy a digital currency and hold it for long-term growth, you could set a stop-loss at 10% below the purchase price and a limit sell at 20% above the purchase price.
That way, if the price dropped 10%, your order would automatically sell and you would limit your losses. And if the price rose 20%, your order would automatically sell and you would take profits.
Unfortunately, Coinbase Pro doesn’t currently offer this feature. So, if you want to use stop-loss and limit sell orders, you’ll need to use another exchange.
There are plenty of other good exchanges out there that do offer this feature, so it shouldn’t be too difficult to find one that meets your needs.
8 Related Question Answers Found
A limit buy is an order to buy a cryptocurrency at or below a specified price. For example, if you wanted to buy 1 BTC at $5,000, you would place a limit buy order. If the market price of BTC is below $5,000 when your order is placed, your order will be filled.
If you’re looking to day trade on Coinbase Pro, there are a few things you need to know. First, Coinbase Pro is a cryptocurrency exchange that offers access to a variety of digital assets. This includes major cryptocurrencies like Bitcoin, Ethereum, and Litecoin, as well as smaller altcoins.
Coinbase Pro is a digital asset exchange that allows its users to trade a variety of digital assets including Bitcoin, Ethereum, Litecoin, and more. One thing that sets Coinbase Pro apart from other exchanges is that it allows its users to place limit orders. A limit order is an order to buy or sell a digital asset at a specific price or better.
When you place an order on Coinbase Pro, the order is processed by our matching engine. To help ensure a fair and orderly market, we have implemented rate limits on the API. Your account can hit these limits if you submit a large number of orders in a short period of time.
Coinbase Pro is a US-based exchange that allows you to trade cryptocurrencies. The exchange is designed for professional traders and offers a variety of features, including margin trading and advanced charting tools. Coinbase Pro also offers a mobile app, which makes it easy to trade on the go.
The ability to short sell is one of the most powerful tools available to traders. It allows you to profit from falling prices, and can be a great hedging tool. So, can you short sell on Coinbase Pro
The answer is yes!
If you placed a limit order on Coinbase Pro, you may be wondering if you can cancel it. The answer is yes, you can cancel a limit order on Coinbase Pro. Here’s how to do it:
1.
A limit order is an order to buy or sell a security at a specified price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. Limit orders are not guaranteed to execute.