Post
Topic
Board Trading Discussion
Topic OP
A quick question about setting limit orders on an exchange.
by
6erth6rind6ain
on 16/04/2021, 21:47:46 UTC
I'm using binance.us as an example in this question because that's the exchange I'm using.

I've finally gotten the hang of setting buy orders and sell orders to the point of successfully scalping. I've been practicing with dogecoin because of how cheap it is and because of it's fast volatility right now. (Well fast, compared to ADA).

I had an idea and wanted to know how I can do it(and if it's even possible).

I want to program a sell order for x amount of coins for when/if the amount of dogecoin I have reaches .45/coin...but at the same time, I would like to program an automatic sell order where I sell all my doge if it dips below .30/coin in order to prevent epic losses.

Can I do both at the same time? If so, how do I do that on binance.us market exchange?

For now, what I've been doing, is making a sell order for .45 and once that sell order has been completed, I quickly make a buy order for when/if doge drops back down to .30. And of course I was only able to do this once, since doge hit .45 for the first time(that I'm aware of) today.