How do you set a stop-loss order?

To set a stop-loss order in crypto trading, follow these steps:

1. Determine the level at which you want to set your stop-loss order. This should be a price point at which you are comfortable closing your position and limiting your losses.
2. Log in to your trading platform and select the cryptocurrency asset you want to trade.
3. Click on the “sell” button to open a short position or “buy” to open a long position.
4. Locate the “stop-loss” option on your trading platform and enter the stop-loss price level.
5. Set the quantity of the cryptocurrency asset you want to trade.
6. Confirm the order and submit it.

Once the stop-loss order is set, the trading platform will monitor the market and automatically execute the order if the price of the cryptocurrency asset falls to the stop-loss level you specified. It’s important to note that stop-loss orders are not guaranteed to execute at the exact price level specified due to market volatility or slippage, but they can still help limit potential losses in case of a sudden price drop.