Advanced Orders are now available through the latest CoinSpot Mobile App update! Set a Stop Loss or Take Profit Order through the Mobile App utilising the instructions provided below.
If you are looking for instructions on how to set a Buy Stop or Buy Limit Order, please refer to the article below:
To view your open and completed Advanced Orders on the CoinSpot Mobile App, please refer to the article below:
If you are having issues with completing the Advanced Order Disclaimer via the CoinSpot Mobile App, please log into your CoinSpot account and head to your preferred coins Advanced Order Page.
What is in this article?
- What is a Stop Loss & Take Profit Order?
- How do I set a Stop Loss Order
- How do I set a Take Profit Order
What is a Stop Loss & Take Profit Order?
Stop Loss
A Stop Loss Order is a type of order where you can set the amount of the coin you would like to sell at a desired price BELOW the current market price.
This could be used in circumstances where you feel the price of your coin may decrease and you want to sell at a specific price target, but do not want to watch your screen until this happens.
Take Profit
A Take Profit Order is a type of order where you can set the amount of the coin you would like to sell at a desired price ABOVE the current market price.
This could be used in circumstances where you feel the price of your coin may increase and you want to sell at a specific price target, but do not want to watch your screen until this happens.
How do I set a Stop Loss Order
1. Tap on Quick Options Button 
(1) > Select Advanced Orders(2).
Figure 1. CoinSpot Mobile App - Stop Loss - (Quick Options Menu)
2. Tap on ‘Stop Loss’.
Figure 2. CoinSpot Mobile App - Stop Loss - (Order Options)
3. ‘Search or select the coin’ you are looking to set a Stop Loss for.
In the following example we will be using Bitcoin (BTC).
Figure 3. CoinSpot Mobile App - Stop Loss - (Coin Search)
4. Enter your desired Sell Price if it were to fall(1) > Enter the Sell Amount(2) > Tap on Preview Stop Loss(3).
⭑ Optional: Press on the inverted arrows to switch and view between coin or AUD value denomination.
Figure 4. CoinSpot Mobile App - Stop Loss - (BTC Stop Loss Example)
5. Review your Stop Loss Order > Once you are ready to place your order, tap ‘Confirm Order’.
Figure 5. CoinSpot Mobile App - Stop Loss - (Confirm Stop Loss)
6. Congratulations, you have successfully set a Stop Loss Order!
To view or update your Advanced Order, press on ‘Go to Open Orders’.
For detailed instructions on how to view or delete an order, please refer to our CoinSpot Mobile App - Manage Advanced Orders article.
Figure 6. CoinSpot Mobile App - Stop Loss - (Stop Loss Complete)
How do I set a Take Profit Order
1. Tap on Quick Options Button (1) > Select Advanced Orders(2).
Figure 7. CoinSpot Mobile App - Take Profit - (Quick Options Menu)
2. Tap on ‘Take Profit’.
Figure 8. CoinSpot Mobile App - Take Profit - (Order Options)
3. ‘Search or select the coin’ you are looking to set a Take Profit for.
In the following example we will be using Bitcoin (BTC).
Figure 9. CoinSpot Mobile App - Take Profit - (Coin Search)
4. Enter your desired Sell Price if it were to rise(1) > Enter the Sell Amount(2) > Tap on Preview Take Profit(3).
⭑ Optional: Press on the inverted arrows to switch and view between coin or AUD value denomination.
Figure 10. CoinSpot Mobile App - Take Profit - (BTC Take Profit Example)
5. Review your Take Profit Order > Once you are ready to place your order, tap 'Confirm Order’.
Figure 11. CoinSpot Mobile App - Take Profit - (Confirm Take Profit)
6. Congratulations, you have successfully set a Take Profit Order!
To view or update your Advanced Order, press on ‘Go to Open Orders’.
For detailed instructions on how to view or delete an order, please refer to our CoinSpot Mobile App - Manage Advanced Orders article.
Figure 12. CoinSpot Mobile App - Take Profit - (Take Profit Complete)
Disclaimer: CoinSpot does not guarantee Stop Loss and Take Profit Orders will execute at the set rate. Although these orders types generally fill at approximately the price specified, notable slippage may cause an order to execute at a lower rate. Technological issues or volatile market conditions may cause these order types to be ineffective and/or impossible to execute in these cases. CoinSpot is not responsible for any losses incurred as a result of using any of our order types.
Market volatility may cause executed orders to differ from the requested trigger price.
Need more help?
Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new
or start a conversation with us via Live Chat and our team will provide full instructions and advice.
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