Strikes and UpDown Options have added Stop Loss Orders! These are conditional orders that will automatically close a position when the underlying asset’s price falls to your specified trigger price.
You can pre-set an order to close your position by defining the maximum loss you are willing to accept.
Key Benefits of Using Stop Loss Orders
- Effectively mitigate potential losses and manage risks
- Plan ahead of time easily
- Say goodbye to constantly monitoring the market
How do I set a Stop Loss Order up?
- When opening a new trade, tap Advanced Trading Options.
- Toggle on Stop Loss and set the parameters for your Stop Loss Order.
- Specify the price at which you would like the Stop Loss Order to trigger. You can choose to limit losses at a specified dollar value or percentage, or when your contract hits a specific price
- Once you’ve chosen your stop loss level, tap on the “Confirm” button to return to the order page and open your position. You’re all set!
- You may add or edit Stop Loss orders even after the position has been opened.
About Strike Options
Strike Options is a CFTC-regulated crypto derivatives product which allows you to potentially profit quickly by predicting whether the price of an underlying asset will be higher than a specific price at the time of expiry.
About UpDown Options
UpDown Options is a CFTC-regulated crypto derivatives product that gives users the tools to capture value in all market conditions. It allows you to maximize profit and minimize losses, trade with lower costs, and hedge against token price dips.
Traders can choose to buy or sell an UpDown Option depending on which direction they believe the market will go. You can select BTC, ETH, SHIB, DOGE, and more as underlying assets on four available contracts each, depending on their risk appetite. This is available seven days a week. UpDown Options is currently only available to users in the US, but will be added to other jurisdictions soon.
Useful Resources:
- Strike Options: FAQs and University Article
- UpDown Options: FAQs and University Article
- Take Profit Orders: FAQ
- Stop Loss Orders: FAQ
Disclaimer
Foris DAX Inc. and Foris Inc. (d/b/a Crypto.com) offer connectivity to Crypto.com | Derivatives North America (CDNA), which is regulated by the Commodity Futures Trading Commission, for the purpose of trading derivatives on and subject to the rules of CDNA. Currently available for US users only, who must first become a Member of CDNA prior to trading CDNA derivatives on CDNA. Trading on CDNA involves risk and may not be appropriate for all. Customers risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on CDNA is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Past performance is not necessarily indicative of future results. None of the material on Crypto.com or CDNA is to be construed as a solicitation, recommendation, or offer to buy or sell any financial instrument on CDNA or elsewhere. CDNA is subject to US regulatory oversight by the CFTC.
