To cancel an existing order, perform the following steps.<ul><li>Move to the Trading terminal tab in the right sidebar.</li><li>Pick Spot trading.</li></ul>Scroll down until you see the Open orders option. Click on it to see your open orders, pick the one you want to cancel, and proceed with its cancellation.

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. 


How can I cancel an 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.&nbsp;To create a Market order, move to the Trading Terminal tab and perform the following steps:<ul><li>Pick New order.</li><li>Pick the account on the exchange where you want the order to be created.</li><li>Choose the coin to sell and the coin to buy.</li></ul>Now, move to the right part of the screen to provide the order details.&nbsp;<ul><li>Pick the order side: BUY or SELL</li><li>Pick whether you want to place a Take profit or a Stop loss order.</li><li>Choose the Market option from the available orders’ selection (Move the toggle button to the On position to activate the options).</li><li>In the Amount field, provide the number of coins you want to buy (BUY order) or sell (SELL order) (you can also choose a percentage of the total available).</li></ul>Further, you may want to set up Take profit and/or Stop loss for the order. These steps are optional, and you can skip them. Also, you can activate the Trailing option, which is also optional.<ul><li>To place the order, click on the Create order button.&nbsp;</li></ul>Your order will be placed, and you will receive a notification that the order is created successfully.To view all the orders you have created, click on the Trading terminal option in the sidebar, move to Spot trading or Futures trading (depending on the order type you want to check), and check the Open orders tab, where all your open orders are displayed.&nbsp;

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 Market Order?

A take-profit order is a type of limit order. It specifies the exact price at which the order shall close or open a position for a profit.If the asset price reaches the preset point, the order is executed, and the position is closed with a profit.The main benefit of a take-profit order is that a trader doesn’t have to worry about trading manually and the risk of missing a profitable price.Take-profit orders are the best for short-time trading because, in the long term, they cut on the possible profitability of trading.

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. 

What is a Take-Profit order?

A limit order is an instruction to buy or sell an asset if it reaches a specified price or better. This order type allows traders to control their trading activities better. A limit order can be both a buy and a sell order.&nbsp;<ul><li>A buy order is executed when the asset price reaches the limit price or lower.</li><li>A sell order is executed when the asset price reaches the limit price or higher.</li></ul>For example, a trader wants to buy cryptocurrency but is limited to a specific price, say, $15. So, by placing a limit order, they ensure that the purchase is made at $15 or lower.And on the contrary, if a trader wants to sell an asset at $15 or higher, a limit order set to this value will be executed when the asset price drops to $15 or lower.If the preset price is not reached, the order is not executed.

A Limit order executes a request to buy or sell at a specified price or a better price.

What is a Limit order?

A trailing stop is a variation of a standard stop order. It is a conditional order that uses a trailing function rather than following a fixed stop price. The trailing amount can be set in either points or percentages and follows the asset price when it is moving up (for sell orders) or down (for buy orders).The trailing order remains in force until the price passes the specified number of points or changes within a specified percentage range. Once the preset conditions are met, the trailing buy or trailing sell becomes a market order and is executed.When using a percentage as a trailing amount, do not forget that this value is not constant. The actual point spread between the current price and the trigger price varies because the trigger price is recalculated constantly.&nbsp;<ul><li>For sell orders, the trigger price will widen when the asset price moves up because the percentage will be recalculated based on a new, higher price.</li><li>For buy orders, the trigger price will narrow when the asset price moves down because the percentage will be recalculated based on a new, lower price.</li></ul><h3>Trailing sell</h3>A trailing sell order helps to maximize the profit when the asset price rises. The aim of this order is to sell when:<ul><li>The asset price reaches or rises above the price you have set for trailing</li><li>The asset price drops to the level or above that you have set for a trail stop value</li></ul>For example, you have a coin that is traded at 4$, and its price is growing. You can create a Trailing Sell with a trail price of $4.30, and the trail end value of $0.10. When the coin price reaches $4.20 or higher, a market order will be placed to sell the coin. If the coin reaches the value of $5 and then, immediately drops below $0.10, your order will be executed to sell your coins at the highest price.<h3>Trailing buy</h3>The aim of a trailing buy order is to buy when:<ul><li>The asset price falls to or below the trail price</li><li>The asset price grows to the level or above the trail stop value you have set</li></ul>For example, you are watching a coin that is being traded at $3.10, and its price is declining. Then, you can create a Tailing Buy order with a trail start price of $2.90, and an end value of $0.10.If the asset price drops to $2.90 or below, a market order will be placed to buy the coin.

A Trailing sell enables you to sell an asset at the highest price if the price continues to increase above the preset value.

What is a Trailing sell?

The Bidsbee dashboard provides you with comprehensive information on your account and a quick overview of your activities.&nbsp;From the dashboard, you can:Connect an account on a centralized exchange:<img src="https://bidsbee-landing-cms-eu.s3.eu-north-1.amazonaws.com/1_7046f553c5.png" alt="1.png">&nbsp;View top traders with all the data about their trading activities, or check all traders: <img src="https://bidsbee-landing-cms-eu.s3.eu-north-1.amazonaws.com/2_84062801e4.png" alt="2.png"> Check your top coins and all coins that you’ve traded:<img src="https://bidsbee-landing-cms-eu.s3.eu-north-1.amazonaws.com/3_9af1223418.png" alt="3.png">

The Bidsbee dashboard provides you with comprehensive information on your account and a quick overview of your activities.

 Bidsbee Dashboard Overview

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.&nbsp;To create a Market order, move to the Trading Terminal tab and perform the following steps:<ul><li>Pick New order.</li><li>Pick the account on the exchange where you want the order to be created.</li><li>Choose the coin to sell and the coin to buy.</li></ul>Now, move to the right part of the screen to provide the order details.&nbsp;<ul><li>Pick the order side: BUY or SELL</li><li>Pick whether you want to place a Take profit or a Stop loss order.</li><li>Choose the Market option from the available orders’ selection (move the toggle button to the On position to activate the options).</li><li>In the Amount field, provide the number of coins you want to buy (BUY order) or sell (SELL order) (you can also choose a percentage of the total available).</li></ul>Further, you may want to set up Take profit and/or Stop loss for the order. These steps are optional, and you can skip them. Also, you can activate the Trailing option, which is also optional.<ul><li>To place the order, click on the Create order button.&nbsp;</li></ul>Your order will be placed, and you will receive a notification that the order is created successfully.To view all the orders you have created, click on the Trading terminal option in the sidebar, move to Spot trading or Futures trading (depending on the order type you want to check), and check the Open orders tab, where all your open orders are displayed.&nbsp;

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 create an order?

<h2>How to register an account on Bidsbee</h2>To register an account on Bidsbee, click on the Sign up button in the top right corner. Provide your valid email address, type in the password you will use to log in, and confirm the password by retyping it in the corresponding field. Tick the fields where you are asked to agree with our Privacy Policy and the Terms and Conditions.&nbsp;Check your email. You will get a confirmation link there. Click on it to confirm your account and log in.If, for some reason, you haven’t received the verification link, contact our support service in Discord or write us an email.At some point, you will be asked whether you want to activate two-factor authentication. You may skip this step, but we recommend activating it to boost the security level of your account. You can also do it later from your Profile, the Security settings tab.Now, you can log into your account on Bidsbee, connect your accounts on CEXes, and proceed with your trading activities.&nbsp;

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.


How to start trading with Bidsbee?

A stop loss order is an order that sells the asset when its price reaches a predetermined level. This order type is designed to limit losses.For example, you have purchased a coin at $18. If you want to ensure you won’t lose too much in case its price starts dropping, you can place a stop loss order at $17 per coin. If the coin price drops to $17, your assets will be sold, thus limiting your losses to $1 per one coin. If you do not place a stop loss order and the coin price continues falling, your losses may be much higher than $1 per coin.&nbsp;As an option, you may choose not a specific price but a percentage. For example, you can place a stop loss order at 10%. If the coin price drops by 10%, the coins will be sold and thus your losses will be limited to 10%.

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 Stop-Loss order?

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 Trailing buy?

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 are the orders available on Bidsbee?

A conditional order is a market or a limit order that is placed when the price reaches a predetermined level.&nbsp;To create a conditional order, perform the following steps:&nbsp;<ul><li>In the sidebar, click on the Trading Terminal option.&nbsp;</li><li>Click on the New Order option.&nbsp;</li><li>Pick the exchange where you want to complete the order. If you haven’t added an account, click on the Add account option, and proceed with adding your account on the selected exchange.</li><li>Pick the trade pair (use the lists or the search function)</li></ul>Once you check the correctness of the provided data, move to the right part of the screen and provide the following information:<ul><li>Pick the order side: BUY or SELL</li><li>Choose the Conditional Order from the available orders’ selection</li><li>Indicate the Specified price to reach and the Due time</li><li>Into the Amount field, enter the amount for the order. You can also set up the percentage of your balance for the order.</li><li>Pick the order type: Market or Limit</li><li>Fill in the details for your Market or Limit order</li></ul>Further, you may want to set up Take profit and/or Stop loss for the order, as well as the Trailing function. These steps are optional, you may just skip them.To place the order, click on the Create order button in the lower right corner of the page.&nbsp;Your order will be placed.To view all the orders you have created, click on the Trading Terminal option in the sidebar, Pick the Spot trading tab, and check your open orders by clicking on the Open orders tab.

A Conditional order is an order that contains one or several predetermined criteria.

What is a conditional order?

An order is an instruction to a broker or an exchange to buy or sell an asset (crypto) on your behalf. Once placed, an order follows the process of order execution.&nbsp;Orders are divided into a wide range of types. It allows traders to specify the conditions at which an order shall be executed.Among such conditions, traders can determine:&nbsp;<ul><li>Whether the order will buy or sell</li><li>The price at which an order shall be executed</li><li>The time during which an order shall stay in force</li><li>Whether the order shall be triggered or canceled depending on another order.</li></ul>Bidsbee supports the widest range of orders, such as:<ul><li>Conditional orders</li><li>Market orders</li><li>Limit orders</li><li>Take profit orders</li><li>Stop loss orders</li><li>Stop market orders</li><li>Trailing stop orders</li><li>Trailing buy and sell orders, among others.&nbsp;</li></ul>

An order is a task that involves instructions on strategies on how to buy or sell an asset, in our case, cryptocurrency.


FAQ Trading on Bidsbee