Stop loss on Bittrex exchange

Place a sell order selecting a price of the bid section

Ez

wat is a stop loss

>>2627696
Can you clarify what you said, this isn't clear from what you wrote, which tab do i open or select

>>2627702
For the sake of discussion, let's say you bought stock at $100 and you went to sleep dreaming about those juicy gains. You wake up in the morning and it's down to $20, fuck. So you set a stop loss so that when the prices crosses a certain threshold , it will automatically sell off your position. So you can get out at whatever limit you set, let's say $90, that way you only lose 10% rather than see your entire position crash.

I'm sure there is a proper way to do this on Bittrex but I'm new to the exchange and figured posting may save me some time.

>>2627773
Can't that be quite risky tho, cos things constantly go up and down.
So if you set a stop loss 10% below, then it drops 10% and ur stuff sells then it rises 40% and you be like fuck....
What kind of situations are stop losses worth the risk?

>>2627739
You are being trolled. If you did what he told you to do, you would sell into the standing orders up to and including the bid price you selected - assuming you are holding enough of whatever currency you are trading to do so.

>>2627850
In principle it's far more risky to not use a stop loss. There is a big difference in missing out on gains, and actually losing your entire position. 10% is a fairly conservative stop loss, especially for crypto's sake it seems.

Stop losses are not really a "risk." They apply for nearly every trade, and you should be using them for nearly every trade especially if you have to leave the computer for sometime and are day trading.

It can work on the other end as well, securing your gains. You can place a limit order to SELL after the prices goes up so high, so that let's say during the night while you slept there was a pump and dump. You set a limit order to sell after 20% gains. This way you secure your gains.

If you're not using stop losses you are constantly running the risk of holding bags.

>>2627869
Ya he wasn't fooling me. I think I've figured out how to do it on Bittrex anyway

>>2627951
How do you do it? Asking for a friend

>>2628072
phone just died and going to bed so don't have 2FA to log back in. Watch these two vids:

Explains stop loss and other types of trades:
https://www.youtube.com/watch?v=ZNjrFsC7E88

Explains roughly how to do on Bittrex, should be able to figure it out from this video after watching the first one:

https://www.youtube.com/watch?v=NBzJApzUj3k&t=248s

>>2628147
Thanks anon!