What is the process for setting a stop loss on the KuCoin app for cryptocurrency trading?

1 answers

• Abhilal TrNov 14, 2024 · 9 months ago
  Setting a stop loss on the KuCoin app is a straightforward process. Here's how you can do it: 1. Launch the KuCoin app and log in to your account. 2. Navigate to the trading section and select the cryptocurrency pair you want to trade. 3. Find the 'Stop-Limit' option and click on it. 4. Enter the stop price, which is the price at which you want the stop loss to activate. 5. Set the limit price, which is the price at which you want the stop loss order to be executed. 6. Specify the quantity of the cryptocurrency you want to sell. 7. Review the details and confirm the stop loss order. By setting a stop loss, you can protect your investment by automatically selling your cryptocurrency if its price drops to or below the stop price. This can help minimize your losses and give you peace of mind during volatile market conditions.
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