The Smart Sell allows you to plan sell for coins you already own. You can set up Stop Loss and Take Profit conditions at the same time and more.
Let's create a sample trade, that's easy. We will set up a deal with the Take Profit +2% and Stop Loss -5%. You can easily adjust the example to create your trades.
The first Smart Sell
- Choose the exchange account and pair, ETH_CMT in this case.
- Switch to SmartSell tab.
- Enter the size of the order in the "Units" field or click "Max" to use all available coins.
- Enter the price you bought your coins at in the "Buy price" field. It used as a starting point for the Take Profit, Stop Loss, Profit\Loss percentages. Even it is called "Buy price", it doesn't mean that you will buy more coins.
That way we plan to sell 37 CMT which we bought previously at a price of 0.00042746 ETH.
- It's the Take Profit time. If it is disabled, enable it by pressing the "Set Take Profit". We don't use trailing this time, 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 using the percentage field.
- This time we are following the tip from the previous SmartTrade guide, so switch to the limit order.
That's the Take Profit setting for the trade. The system will place a limit order at 0.0043600 ETH when the price starts rising.
- Now is the Stop Loss time. If it is disabled, enable it by pressing the "Set Stop Loss". Set it, in the example we use -5%.
If the price drops to or below 0.00040608 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: for 37 CMT plan the Stop Loss -5% and Take profit +2%. Use a market order for the Stop Loss and a limit one for the Take Profit.
- That's all! Scroll down, and there is our trade. As it is a Smart Sell order, it is skipping the buy phase and starting in "bought" status.
Check the whole creation process in the GIF.
Now you know how to place an essential trade for coins you already own. Even it doesn't use trailings, multiple targets and other advanced features, it allows to set both the Take Profit and the Stop Loss at the same time.
Here is the created trade in actual trades table.
Some hours passed, and the trade finished now. You can find your completed trades on the history page.