Cryptocurrency Q&A
Can you set a stop-loss above current price?
Can you set a stop-loss above current price?
Dario
Fri Dec 06 2024
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7
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I'm considering setting a stop-loss order for my investment, but I'm not sure if it's possible to set it above the current price. I want to protect myself from potential losses, but I also don't want to miss out on any potential gains.
7 answers
Daniele
Sun Dec 08 2024
Unlike traditional stop-loss orders, a buy-stop order is placed above the current market price.
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Michele
Sun Dec 08 2024
This order type is utilized by traders who have taken a short position in an asset.
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LucyStone
Sun Dec 08 2024
The buy-stop order is triggered only when the market price rises above the specified level.
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Elena
Sun Dec 08 2024
A buy-stop order serves as a specific type of order designed to mitigate risks associated with short positions.
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SilenceSolitude
Sun Dec 08 2024
Once the price surpasses this threshold, the buy-stop order executes a market buy for the asset.
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