Trading - Advanced Order Types with Coinbase

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Buy side stop-limit order | Crypto trading strategy for buying a breakout

October 7, 2017 by

Description

What is a buy side stop order, and how can we use it? Buy side stop orders are buy orders that have a stop price. The stop price is a trigger that allows either a market or limit order to be placed when triggered. We want to use limit orders to protect ourselves from paying arbitrary prices not determined by us. Buy side stop orders allow traders to buy breakouts automatically, without writing code. Using stop orders in this way, gives traders more optionality. If the asset's price falls, no losses are incurred. If the asset's price starts to move higher, the trader jumps in when the order is triggered. Buying on conditions opposed to buying instantly, provides more optionality in general and provides structure to a trading strategy. Let's have a look: Human image source: https://openclipart.org/detail/230256/stylish-lizard-person Follow deeplizard: YouTube: https://www.youtube.com/deeplizard Twitter: https://twitter.com/deeplizard Facebook: https://www.facebook.com/Deeplizard-145413762948316 Steemit: https://steemit.com/@deeplizard Instagram: https://www.instagram.com/deeplizard/ Support deeplizard on Patreon: https://www.patreon.com/deeplizard Support deeplizard with crypto: Bitcoin: 1AFgm3fLTiG5pNPgnfkKdsktgxLCMYpxCN Litecoin: LTZ2AUGpDmFm85y89PFFvVR5QmfX6Rfzg3 Ether: 0x9105cd0ecbc921ad19f6d5f9dd249735da8269ef Recommended books on trading: --Beginner-- Real Money: http://amzn.to/2pDaf15 --Intermediate-- The Daily Trading Coach: http://amzn.to/2pA7Uni --Advanced-- The Black Swan: http://amzn.to/2GjusT4 Antifragile: http://amzn.to/2IKOvbn Skin in the Game: http://amzn.to/2pwbTBo Coinbase sign up (You get $10 in BTC & we get $10 in BTC): https://www.coinbase.com/join/5934c12567d6760847b9a8dd GDAX playlist: https://www.youtube.com/playlist?list=PLZbbT5o_s2xr17PqeytCKiCD-TJj89rII Crypto hardware wallets: Ledger Nano S: http://amzn.to/2FZGP7y Trezor: http://amzn.to/2FZHs0U