FAQ Trading on Bidsbee
What is a Stop-Loss order?
A Stop-Loss order is executed when an asset value reaches a specified point. It is used to limit losses or gains in a trade.
What is a Trailing buy?
A Trailing Buy order allows you to buy an asset at the lowest possible price if the asset starts increasing in value.
What is a Take-Profit order?
A Take-Profit order is a type of a Limit order that specifies the exact price at which the order will be executed for a profit.
How can I cancel an order?
To cancel an order, open the _Open orders_ tab in _Trading terminal_, click there on the order you want to cancel, and click on the _X_ button.
What are the orders available on Bidsbee?
Bidsbee allows you to place for _spot_ trading the following orders: - Market orders - Limit orders - Conditional orders - Take Profit/Stop-Loss orders For _futures_ trading, you can place: - Market orders - Limit orders - Stop-Limit orders - Stop Market orders - Trailing Stop orders - Limit TP-SL orders (Strategy orders)
What is a conditional order?
A Conditional order is an order that contains one or several predetermined criteria.
What is an order?
An order is a task that involves instructions on strategies on how to buy or sell an asset, in our case, cryptocurrency.
What is a Market Order?
A market order executes the request to buy or sell an asset at the best available price on the exchange at the moment when the order is created.
What is a Limit order?
A Limit order executes a request to buy or sell at a specified price or a better price.
What is a Trailing sell?
A Trailing sell enables you to sell an asset at the highest price if the price continues to increase above the preset value.
Can I test Bidsbee before I start trading with real money?
Yes, you can test the Bidsbee functionality by using a virtual balance. To do so, login to your Bidsbee account, and hit the _Virtual balance_ tab. With the Virtual balance, you have access to the majority of the functionalities except copy trading, Futures trading, adding new exchange accounts or modifying the existing ones, setting up alerts, changing your password or purchasing subscriptions.
Can I view my trading history?
Yes, you can view your trading history directly in _Orders history_. To do so, move to the _Trading terminal_ tab, pick _Spot trading_, and click on the _Orders history_ tab to see your orders.
How to create an order?
To create a new order, move to the _Trading terminal_ tab in the sidebar, and click on the _New order_ button. Choose the account on the exchange, and the coin pair you are going to trade. Proceed with picking whether it is going to be a Buy or a Sell order, choose the order type, and provide the number of coins you want to buy or sell (%). Click on the _Create order_ button to create the order.
How to start trading with Bidsbee?
To start trading with Bidsbee, register an account, connect your trading accounts on centralized exchanges with API keys, and start placing orders. You can either use a free plan or subscribe to a paid plan to access more functionality or become a pro trader and enable other users to copy your traders.