ProfitTrading App for Android — How to place Split Sell orders
Split sell orders is a great way of minimizing sell risk. Consists of splitting one sell order into several orders with different amounts and prices.
For example let’s say we have purchased 100 units of a coin at 0,00100. We could sell that 100 units at (for example) 0,00120. But imagine that the coin price reaches 0,00115 and then it falls down. Your sell order won’t be filled.
On the other hand we could make this sell configuration:
- Sell 30 units at 0,00105
- Sell 30 units at 0,00110
- Sell 40 units at 0,00120
In this case if the price reaches 0,00115 as told before, at least we would have sold part of our coins.
Setting split sell orders with ProfitTrading App
To configure split orders, just go to TradingBot section, write the coin you want to trade and start adding operations by pressing ‘+’ button. You may want to place the following operations:
- Create a BUY operation
2. Create the three SELL operations. The order must be from lower to higher price.
3. Create a STOP LOSS operation and fill the stop loss price:
Press ‘SAVE’ button and you are done. The bot will try to execute the BUY order at first. When filled, will start with the first SELL order working in parallel with STOP LOSS order, it will execute the one that first fulfill it’s conditions. If the first SELL order is filled, the bot will continue with the second SELL order, and STOP LOSS will only take in account the remaining units to SELL (in this case the sum of second and third amounts). When the second SELL order is filled will start with the third until it finishes.
You are done, the bot will take care of all the orders for you, so you don’t need to create any order or check prices, all is done in ProfitTrading servers so you don’t even need to keep your app open or your device on.
You can check the bot status whenever you want, and you can activate to be notified whenever an order is finished or whenever the whole bot is finished.
That’s all, your clap is highly appreciated, thanks for reading!