Can you guide me through the steps to enable a stop loss feature on Robinhood for my digital currency trades?
Harshavardhan ReddyDec 25, 2021 · 3 years ago1 answers
I'm new to trading digital currencies on Robinhood and I would like to know how to enable the stop loss feature. Can you provide a step-by-step guide on how to do it?
1 answers
- Dec 25, 2021 · 3 years agoAbsolutely! Here's a step-by-step guide to enable the stop loss feature on Robinhood for your digital currency trades: 1. Open the Robinhood app on your mobile device. 2. Navigate to the 'Investing' tab and select the digital currency you want to set a stop loss for. 3. Tap on the 'Trade' button. 4. In the trade screen, you'll see an option to set a stop loss. Tap on it. 5. Enter the desired stop loss price. 6. Review the details and confirm the trade. That's it! The stop loss feature will now be active for your digital currency trade on Robinhood. Keep in mind that it's important to regularly monitor the market and adjust your stop loss as needed to protect your investment.
Related Tags
Hot Questions
- 76
How can I minimize my tax liability when dealing with cryptocurrencies?
- 61
Are there any special tax rules for crypto investors?
- 58
What are the advantages of using cryptocurrency for online transactions?
- 47
What is the future of blockchain technology?
- 43
What are the tax implications of using cryptocurrency?
- 32
What are the best practices for reporting cryptocurrency on my taxes?
- 24
How does cryptocurrency affect my tax return?
- 19
What are the best digital currencies to invest in right now?