The Smart Trade allows you to plan both buy & sell at the same time. You can set up Stop Loss and Take Profit conditions at the same time and even before the coin is purchased.
Let's create a sample trade, that's easy. We will set up a deal with limit buy, Take Profit +2% and Stop Loss -3%. You can easily adjust the example to create your trades.
The first Smart Trade
- Choose the exchange account and pair, ETH_AION in this case.
- Enter the price you want to buy your coin at into the "Buy price" field.
- Change the size of your trade if you want to. Use fields "Units" and "Total" to do this, or click on the size shortcut. We did it the last way by clicking on 5%.
That's all for our buy settings. The system will place a limit order at 0.001880 ETH with size 9.25 AION after we create the trade.
- Let's configure sell settings now. Click on the "Set Take Profit" button.
- We don't use the trailing feature at this point, so disable it.
- Now set your take profit target using the price field, percentage field or the slider. Our aim is 2%, so we set it with the slider.
That's the Take Profit setting for the trade. The system will sell your coins at the market rate when the price hits 0.001917 ETH.
- Now is the Stop Loss time. Click on the "Set Stop Loss" button.
- Set the Stop Loss, -3% in the example.
If the price drops to or below 0.001823 ETH, the system will sell coins at the market rate.
- Here are the full trade settings.
- Press the "Create Trade" button.
- A confirmation window opens, check your trade details and confirm it by pressing the "Confirm" button.
A brief recap: buy 9.25 AION at 0.00188 ETH, after the buy, activate Stop Loss -3% and Take profit +2%, both use a market order.
- That's all! Scroll down, and there is our trade.
Check the whole creation process in the GIF.
The second SmartTrade
The same settings, just different pair. So there is only the GIF for this one.
Now you know how to place an essential trade. Even it doesn't use trailings, multiple targets and other advanced features, it allows to set both the Take Profit and the Stop Loss also before you buy the coin. It's a solid option in trading.
Here are these created trades in actual trades table.
Some time passes, and the status changes. Now both trades have bought coins and waiting for the Stop Loss or Take Profit conditions.
Some hours passed, and both trades finished now. You can find your completed trades on the history page.
Profit, yay! Because of exchange fees and that we used the market order in both trades, gains are slightly lower than 2%.
Tip: use the limit order in the Take Profit when you have the trailing feature not active. To do this, check the "Limit Order" and enter your target price in both price fields. For the ETH_AION trade from the example, it could be like this.