Are there any limitations or restrictions when setting a stop loss on the Coinbase app?

3 answers

• Dec 15, 2021 · 3 years ago
  When setting a stop loss order on the Coinbase app, there are a few limitations and restrictions to be aware of. First, Coinbase has a minimum stop price requirement, which means that your stop price must be higher than a certain threshold. This is to prevent users from setting extremely low stop prices that could trigger unnecessary sell orders. Additionally, there may be limitations on the number of stop loss orders you can place at a time, depending on your account level and trading volume. It's also important to note that stop loss orders are not guaranteed to execute at the exact stop price you set, especially during periods of high market volatility. Coinbase will try its best to execute the order at or near the stop price, but there may be slippage. Overall, while the Coinbase app offers convenient stop loss functionality, it's important to understand and consider these limitations and restrictions when using it for risk management.
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• Dec 15, 2021 · 3 years ago
  Setting a stop loss on the Coinbase app is a useful risk management tool, but there are a few limitations and restrictions to keep in mind. One limitation is that stop loss orders are only available for certain cryptocurrencies supported by Coinbase. If you're trading a less popular or newly listed coin, you may not be able to set a stop loss order for it. Another restriction is that stop loss orders can only be placed during regular trading hours and are not available for after-hours or extended-hours trading. Additionally, there may be limitations on the minimum and maximum stop price you can set, depending on the specific cryptocurrency and market conditions. It's always a good idea to review the latest information and guidelines provided by Coinbase to ensure you understand any potential limitations or restrictions when setting a stop loss on their app.
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• Dec 15, 2021 · 3 years ago
  While I can't speak specifically for Coinbase, as a representative from BYDFi, I can provide some general insights into limitations and restrictions when setting a stop loss order. It's common for exchanges to have certain requirements and restrictions in place to protect users and maintain market stability. These can include minimum stop price thresholds, limitations on the number of stop loss orders per account, and restrictions on certain cryptocurrencies or trading pairs. It's important to carefully review the platform's terms of service and trading guidelines to understand any specific limitations or restrictions that may apply. Additionally, it's worth noting that stop loss orders are not foolproof and can be subject to market conditions and execution delays. It's always a good practice to regularly monitor your positions and adjust your stop loss orders as needed to ensure effective risk management.
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