Limit Orders, Stop-Loss, and Take-Profit Strategies

1. Limit Orders:
   • Definition: An order to buy or sell at a specific price or better.
   • How to Use:
     1. On a CEX like Binance or KuCoin, select “Limit Order.”
     2. Set the price at which you want to buy or sell.
     3. Place the order and wait for it to be filled.
2. Stop-Loss Orders:
   • Definition: An order to sell a coin when it reaches a specific price to limit losses.
   • How to Use:
     1. On a CEX, select “Stop-Loss Order.”
     2. Set the stop price (the price at which the order will trigger).
     3. Set the sell price (the price at which the coin will be sold).
     4. Place the order to protect against sudden price drops.
3. Take-Profit Orders:
   • Definition: An order to sell a coin when it reaches a specific price to lock in profits.
   • How to Use:
     1. On a CEX, select “Take-Profit Order.”
     2. Set the take-profit price (the price at which the coin will be sold).
     3. Place the order to lock in gains.