1. I buy Bitcoin using the PC Coinbase platform.
2. It goes up and I want to get out of the trade to make a profit.
3. The trade is still open.
4. I open the trade and the only option is "Cancel."
5. I click "Cancel" and the order is canceled.
6. I don't make or lose any money.
How Do I Get Out Of The Trade Without Canceling It?
Thank you for taking the time to read my post and replying.
2. It goes up and I want to get out of the trade to make a profit.
3. The trade is still open.
4. I open the trade and the only option is "Cancel."
5. I click "Cancel" and the order is canceled.
6. I don't make or lose any money.
How Do I Get Out Of The Trade Without Canceling It?
Thank you for taking the time to read my post and replying.
You didn't bought Bitcoin from Coinbase but placed a limit buy order to buy Bitcoin and that order was not filled I guess. When an order isn't filled then that means you haven't got any Bitcoin from the Coinbase exchange and your own trade wasn't filled. Even if Bitcoin price goes up you won't have any profit from that because your buy limit order wasn't executed in the first place. The trade was is open because the limit price was never reached and that's why the order was not filled at all. And, when you clicked on the cancel button you simply canceled the non filled order and you got your initial crypto back that you place as buy order.
That's the main reason for you getting out of the trade and not losing or making any profit. I recommend you to learn the difference between market order and limit order. When you place a buy market order then that order gets filled within seconds, but when you place buy limit order then the order will only get filled if the limit that is set is reached out. In your case you set a limit buy order and the limit ranged wasn't reached and that's why when you canceled the order you didn't make any profit or loss from that order.