We offer various trading tools that can be used as risk management
strategies when trading in volatile markets like Bitcoin and other
cryptocurrencies.
You can use a 'Take Profit' order to 'lock in' your
potential profits - automatically close your trade at a preset price.
You can use a 'Stop Loss' order to reduce or prevent
larger losses - automatically close your trade at a preset price.
Another option is to use a
'Trailing Stop' order, designed to protect profits by
allowing the position to remain open as long as the price moves in your
favor, but closing the trade once the price changes direction by a
preset number of points.
Please note that these stop orders do not guarantee that your position
will be closed at the exact price you specified. If the price suddenly
gaps or slides above or below your stop level, your position may be
closed at the next available price, which may differ from your set
price. This is known as 'Slippage'.
If you want to ensure your trade is closed at the exact set price,
without the risk of slippage, you can set a 'Guaranteed
Stop' order. This special order requires payment of an
additional premium through the buy/sell spread.
To learn more about how to use COMEX' risk management tools,
click here.
