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How can I set up stop loss and stop limit orders on the Robinhood platform for trading digital currencies?

avatarMetayustia2224Dec 26, 2021 · 3 years ago3 answers

Can you guide me on how to set up stop loss and stop limit orders on the Robinhood platform for trading digital currencies? I want to ensure that I can manage my risk effectively while trading cryptocurrencies on Robinhood.

How can I set up stop loss and stop limit orders on the Robinhood platform for trading digital currencies?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Sure, I can help you with that! To set up a stop loss order on Robinhood for trading digital currencies, follow these steps: 1. Open the Robinhood app and navigate to the cryptocurrency trading section. 2. Select the digital currency you want to trade. 3. Tap on the 'Trade' button and choose 'Sell'. 4. Enter the amount of the digital currency you want to sell. 5. Tap on the 'Advanced Order' option. 6. Select 'Stop Loss' as the order type. 7. Set the stop price at which you want the order to be triggered. 8. Set the limit price at which you want the order to be executed. 9. Review the order details and tap on 'Review' to confirm. 10. Finally, tap on 'Submit Order' to place the stop loss order. Remember to carefully consider your stop price and limit price to ensure your order is executed as desired. Good luck with your trading!
  • avatarDec 26, 2021 · 3 years ago
    No problem! Setting up stop loss and stop limit orders on Robinhood for trading digital currencies is quite straightforward. Here's a step-by-step guide for you: 1. Open the Robinhood app and go to the cryptocurrency trading section. 2. Choose the digital currency you want to trade. 3. Tap on the 'Trade' button and select 'Sell'. 4. Enter the amount of the digital currency you wish to sell. 5. Tap on the 'Advanced Order' option. 6. Select 'Stop Loss' as the order type. 7. Set the stop price at which you want the order to be triggered. 8. Set the limit price at which you want the order to be executed. 9. Review the order details and tap on 'Review' to confirm. 10. Finally, tap on 'Submit Order' to place the stop loss order. That's it! You've successfully set up stop loss and stop limit orders on Robinhood for trading digital currencies. Happy trading!
  • avatarDec 26, 2021 · 3 years ago
    Certainly! To set up stop loss and stop limit orders on the Robinhood platform for trading digital currencies, follow these steps: 1. Open the Robinhood app and navigate to the cryptocurrency trading section. 2. Choose the digital currency you want to trade. 3. Tap on the 'Trade' button and select 'Sell'. 4. Enter the amount of the digital currency you wish to sell. 5. Tap on the 'Advanced Order' option. 6. Select 'Stop Loss' as the order type. 7. Set the stop price at which you want the order to be triggered. 8. Set the limit price at which you want the order to be executed. 9. Review the order details and tap on 'Review' to confirm. 10. Finally, tap on 'Submit Order' to place the stop loss order. That's it! You've successfully set up stop loss and stop limit orders on Robinhood for trading digital currencies. If you have any more questions, feel free to ask!