1) Log in to your Bitso account and go to the “Exchange” section. Then, click on “Trading”.
2) Select the “Market” in which you want to trade.
3) Depending on the transaction that you will carry out, go to the “Buy” or “Sell” box. Then, click on the “Order Type” menu (as shown in the image) and select “Stop-Loss”
4) Enter your transaction’s parameters. In the example shown in the image below an order for buying Bitcoin (BTC) will be set up. The “Amount to Spend” is $10,000.00 MXN, with a “Stop Price” of $110,000 MXN. This means that when the “Last Price” is equal to or less than $110,000.00 MXN, a market order will be carried out, and $10,000.00 MXN of your balance will be converted to BTC.
THE “PRICE” SPECIFIED FOR THIS TYPE OF ORDER ONLY WORKS FOR SETTING THE ORDER OFF. THE ORDER WILL THEN BE CARRIED OUT AS A MARKET ORDER. THIS IS TO SAY, THE ORDER WILL NOT NECESSARILY BE BOUGHT OR SOLD EXACTLY AT THE “STOP PRICE.”
5) Click on “Buy” or “Sell.” A notice will appear where you will be able to confirm the data you entered. If they are correct, click on “Confirm.”
6) You can see your active order on the screen’s bottom right corner. The order will be carried out once the specified parameters are fulfilled. The order can be cancelled at any time by clicking on the “x” at the right.
THE ORDER MAY NOT BE CARRIED OUT AT THE “STOP PRICE” FOR THE FOLLOWING REASONS:
THE ORDER IS CARRIED OUT THROUGH A MARKET ORDER, AND THE PRICES IN THE ORDER BOOK CAN CHANGE IN MILLISECONDS.
IF THERE IS NOT ENOUGH LIQUIDITY IN RELATION TO THE ORDER’S SIZE, THE ORDER WILL BE CARRIED OUT IN PARTS, AT DIFFERENT PRICES, TAKING INTO ACCOUNT THE BEST POSTURES IN THE ORDER BOOK, UNTIL IT IS CARRIED OUT COMPLETELY.
Last Price: The last price at which the last transaction in the market was carried out.