What is a stop-loss order and how does it work in cryptocurrency trading?

1 answers

• May 06, 2022 · 3 years ago
  At BYDFi, we understand the importance of risk management in cryptocurrency trading. A stop-loss order is a crucial tool for protecting your investments. It allows you to set a price at which you want to sell your cryptocurrency if the market price reaches or falls below that level. This helps to limit your losses and prevent further downside. It's important to carefully consider your stop-loss price and the volatility of the market when setting your order. Remember, cryptocurrency trading can be highly volatile, so it's important to have a risk management strategy in place.
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