A Stop Loss Order sells your crypto automatically if its price falls to a level you set, helping you limit losses if the market moves against you. This article explains how it works and how to place one on the Coinstash website.
Stop Loss Orders are one of our Conditional Orders.
How a Stop Loss Order works
A Stop Loss Order helps you limit losses. You set the amount of an asset to sell if its market price drops to a specified level. Stop Loss Orders must have a trigger price lower than the current price.
If a trade doesn't go your way and the price drops, the order helps you exit the position without losing too much.
Example (hypothetical prices)
Say you buy 1 BTC at $100,000 AUD because you expect the price to go higher, but you want to limit your potential loss to around $5,000 in case you're wrong.
You set a Stop Loss Order at $95,000 AUD/BTC.
If BTC drops to or below $95,000, your position is sold.
These prices are for illustration only and don't reflect current market prices. Trade fees and price movement can affect the final amount.
How to place a Stop Loss Order (web browser)
Step 1 – Open Trade
Once logged in, you'll be taken to your account dashboard. Click Trade in the navigation menu or dashboard to open the trading interface.
Step 2 – Choose your coin
Choose the cryptocurrency you want to place a Stop Loss Order for, then click the Buy/Sell/Swap button.
Step 3 – Select Stop Loss
Click the Stop Loss option under SELL to open the order form.
Step 4 – Enter your stop price
Enter the price at which you want the order to trigger. When this price is reached, a market sell order is activated. Using the example above, you'd enter $95,000.
Step 5 – Enter the amount to sell
Enter the quantity you want to sell in the I want to sell.. field. For example, 0.11 BTC.
Step 6 – Place the order and check the total
Click Place Stop Loss Order. The form automatically calculates and displays the estimated total you would receive based on the stop price and quantity. Review this total to make sure it's accurate.
Step 7 – Monitor your order
You can monitor the order's status in your trading interface. The order remains open until the market price reaches or goes below your stop price. You'll receive an email notification once it's executed.
⚠️ Important
A stop loss isn't a guaranteed price. Once triggered, a market sell order is placed, so in a fast-falling or low-liquidity market you may receive less than your stop price. See Slippage and liquidity explained.
Set it with care. A stop price very close to the current price may trigger on normal day-to-day price swings.
You can cancel any time, for free, while the order hasn't executed. See How can I cancel an order?
Trade fees apply when your order executes. See What is the Trade Fee?
Troubleshooting
My stop loss sold for less than my stop price. This can happen when prices move quickly. Your stop price is the trigger, and the sale then happens at the next available market price. If the difference seems large, contact us with the coin, amount and time.
I want to sell if the price goes up instead. Use a Take Profit Order.
Other order types: Buy Limit Order · Buy Stop Order · Take Profit Order
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