How Does Stop Loss Crypto Trading Work
Investors on My Digital Money can take advantage of our simple crypto stop loss feature to minimize any unacceptable or unexpected losses in their crypto IRA or brokerage account.
Automated Crypto Trading
Perfectly-Timed Crypto Trades – Every Time.
Our Automatic Trigger Orders feature makes it easy to automate your crypto trades so that you never miss out on an opportunity. Whether you’re looking to automate selling to avoid potential losses, or automate buying to maximize potential gains, you can easily streamline your crypto trading on My Digital Money.
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Determine Your Price PointEvery cryptocurrency is different, so you should consider each coin individually.
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Set Your Price TriggersOnce you’ve determined your price points, setup your automatic triggers.
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Maximize Your Potential ROIStart avoiding any significant losses and maximize your potential profits.
Easily Automate Your Crypto Trading
At the end of the day, if you are going to be a successful crypto trader, you have to be confident in your investment strategy. Crypto trading automation features allow investors to stick to their trade strategies, even when they’re not watching the markets.
Stay Ahead Of Losses
Be Prepared For Market Volatility
Automatic Trigger Orders allow you to limit your potential losses based on your loss tolerance. For example, let’s say you’ve invested in a currency at $1.50 per coin. You may feel that if that coin drops by $.25 or more, it’s no longer worth holding in your portfolio. Triggering an automatic sale of that asset as it hits the price let’s you exit while your losses are still acceptable.
Download Our Free Crypto Investment Guide
Investing in cryptocurrency is just like investing in any other security – it requires research, strategy, and a little bit of luck. Get started on your crypto investing journey with our free crypto guide.
Lower Your Average Cost Per Coin
Automating crypto orders is an excellent way to reduce your average cost per coin. The idea behind this strategy, known as “Averaging Down”, is to buy whenever the price is lower than the one you previously paid, bringing the overall average price you’ve paid down. This is also known as “buying the dip” and is a long-term strategy many investors use.
Gains Are Not Guaranteed
Automatic trigger orders allow investors to maximize their gains by ensuring they take advantage of an opportunity at a price they’ve deemed optimal. If your assumptions about price movements are correct, you can maximize your profits and bring down your average cost per coin. But if your assumptions are incorrect, it could result in a negative impact on profitability.