Quote from: marimanga on October 01, 2021, 05:39:23 PM

I like to hold coins for long term but right now im interested in futures trading and there is a thing i don't understand and cannot find answer on internet (lol).

Lets say i bought long BTC/USD at $47,000 and if bitcoin goes down like at $42,000 will my open order will be canceled automatically without my permission and lose my money. I know stop limit loss but im not interested at this right now because im always behind my computer. Also... Can you hold open orders like for a year and if it goes up i take alot of profits.. My concern is only if im at loss i don't like to sell and lose but im concerned if my open order will be canceled automatically if not set up limit loss and take loss, i always wait for the price to go up at the same price i bought. English is not my first language if my question is not clear please let me know i'll try to explain below in comments. Thank you.

If you need help in futures trading, then you should not be futures trading, simple as that. The simplest fact is that if you do high leverage and the price goes against what direction you wagered on (and yes you wager this, not invest, it is total gambling) then you will be liquidated, which means all of your order will be gone and you will lose all of that money.

So, let's say you put up 1000 dollars into bitcoin going to 55k until next week, and it goes down to 40k instead, all of that 1000 will be gone and you will not be able to wait until it goes back up, if that was an option then there would be a lot more people who do that and not enough people to lose so that others would profit. Long story short, if you are not sure about trading futures, and you have questions then you need to do a whole lot more regular trading and studying before you move to futures.