What are the best limit order strategies for trading Bitcoin on eTrade?

3 answers

• Mar 15, 2022 · 3 years ago
  Sure! One effective strategy is to use a trailing stop order. This type of order allows you to set a stop price that follows the market price at a certain percentage or dollar amount. It helps you lock in profits by automatically adjusting the stop price as the market price increases. This way, if the price suddenly drops, the order will be triggered and you can sell at a higher price. It's a great way to protect your gains while still allowing for potential upside.
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• Mar 15, 2022 · 3 years ago
  Well, another strategy you can consider is using a limit order with a price target. This means you set a specific price at which you want to buy or sell Bitcoin. By doing so, you can take advantage of price fluctuations and potentially buy at a lower price or sell at a higher price. However, keep in mind that the market may not always reach your target price, so it's important to set realistic expectations and be patient.
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• Mar 15, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, recommends using a combination of limit orders and stop orders for trading Bitcoin on eTrade. By placing limit orders, you can specify the maximum price you're willing to pay or the minimum price you're willing to sell at. On the other hand, stop orders allow you to set a trigger price at which your order will be executed. This combination can help you take advantage of price movements and protect yourself from sudden market fluctuations.
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