Stop Loss

How to add or change the Stop Loss on your trading bot. Make sure to check out the entire information we've got ready for you on Bitsgap.

Updated over a week ago

Stop Loss is a bot feature that allows you to close your trading bot and sell its base currency (GRID Bot) or buy it back (BTD Bot) when the price reaches the Stop Loss condition. This can be used to limit the losses when the price moves against the chosen direction and exit the market automatically.

🤔 How does Stop Loss work?

When enabling Stop Loss, you need to enter the price when it should be executed. When triggered, the following events occur:

  1. All open bot orders are canceled.

  2. The bot sells its base currency (GRID Bot) or buys back it using the quote currency (BTD Bot) at the best available price.

  3. The bot is removed from the list of active bots, and its data is added to the Bot History tab.

Here is an example: If Stop Loss is enabled on the GRID bot, ETH/USDT pair at 1350 USDT. The bot gets closed, and all ETH is sold when the price reaches 1350 USDT, as intended by the condition.

Features of Stop Loss:

  • Stop Loss can be set even inside the grid, but this means that all bot orders beyond the Stop Loss level will not be filled.

  • Stop Loss is permanent if Trailing Up (GRID Bot) or Trailing (BTD Bot) is disabled.

  • If Trailing Up (GRID Bot) or Trailing (BTD Bot) is enabled, then Stop Loss becomes dynamic. It will follow the grid at a fixed interval whenever it moves.

  • You can still disable the Trailing Stop Loss feature for GRID Bots. So, the bot will trail up when the price goes above the High price, and the Stop Loss will stay at the same level and avoid following the grid.

📚 Info

The value you enter in the Stop Loss is a price condition where the Stop Loss is executed but not the exact price. The Stop Loss will be filled at the best available price via the market order. As a result, the actual price may be different.

Stop Loss for a new bot

To activate Stop Loss for your new bot, please toggle on the Stop Loss option in the Manual Adjustment section and enter the necessary trigger price.

Stop Loss for an active bot

To activate Stop Loss for an active bot, select the bot you need; it will be highlighted in blue. In the panel on the right, click the [Bot actions] button.

Then select the [Modify Bot] option.

In the Manual Adjustment section, you can enable the Stop Loss function and set the parameters you need. Enable the Stop Loss feature, enter the price, and then click [Continue].

Take another look at all your settings before confirming them. To proceed, click the [Confirm] button.

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