HOW TO PREVENT LOSS AND SET STOP LOSS SELL ORDER IN BITTREX

We will be discussing probably the most crucial aspect of trading and investing, protecting your capital....

Before you invest any money you should not be thinking about how much money can I make,....

but how much money can I LOSE.

The goal of trading and investing is to increase capital....

In fact capital is a pre-requisite for trading and investing in the first place....

If you have 1 BTC to invest in a single trade you should ask yourself, how much of that am I willing to lose.

In crypto markets you could lose that entire 1 BTC, for reasons such as an exchange hack, or if the coin turns out to be a scam...or as we have today a bear market attributed to btc protocol update coming up

The best tool we have at our disposal for limiting risk is what is called a Sell Stop....

This acts like a trigger waiting for price to cross a certain threshold before becoming active.

For an example lets assume we bought 100 ETH at 0.016 anticipating a price rise in the coming days,
at a total cost of 1.6 BTC (ignoring exchange fees).....

The most you want to lose on this trade is 0.1 BTC so if the price drops below 0.015 then you want
to sell your position, so you put in sell stop on the exchange.....

This way if price trades at or below 0.015 the exchange will automatically sell your position at the
price you decide,.....

when choosing the price to sell at it should always be 5-10% lower than the Stop price, this is called slippage.

Exchanges have different terminology so we have provided examples for Poloniex and Bittrex....

Poloniex = sell stop limit order

Bittrex = conditional order

We will be making a demonstration with a live trade on bittrex

Stay tuned for demonstration later on poloniex

Now on my bittrex I've got 0.2btc available for trading

For the sake of this illustration we will be considering 2 coins on bittrex to buy...

So we are going to use 0.1btc for each trade

It's also good practice to spread and diversify your capital or portfolio to spread out evenly the risk across...

This is good a good money / risk management strategy

After analysis we'll be considering

BAT
QRL

on Bittrex

So we bought BAT with 0.1btc @ 0.00003935

Now after analysing the price action of BAT... We have decided to risk only about 18% loss of this
trade if price goes south against us ...

Meaning at 0.00003218 or below ...we'll be selling if price dips... To cut down loss

The "conditional sell " tool on bittrex helps in setting this

Here's how

Go to the sell BAT window... You can see how much BAT you bought

Enter the max unit of BAT by clicking the amount of BAT available

Click on type of order ...to drop down options

Click on "sell when"...to drop down options

Select "less than or equal to"

Enter price to sell if price dips... In this case 0.00003218

Click on amount of BAT available again to display the total amount of btc you'd come out with if
the price goes against you...

0.08137052...

If you ask me it's way better than losing a whole chunk

Then click sell BAT... To set the conditional sell order

Ce finis

Trade responsibly...
Trade like a pro...
Trade like the 300 Spartans

"GIVE THEM NOTHING... BUT TAKE FROM THEM EVERYTHING "

This brought us to the end of setting stop loss setting on BITTREX.
You bring down your suggestions too. I hope this will help someone to prevent him or
her to loss when trading.

thank you all for your co-operations.. My next post will be on POLONIEX setting stop loss.
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that you will not miss any of my post.

THE BELOW PICTURE ALSO CAN HELP YOU TOO.