User Guide
How to place orders?
Use the BUY and SELL panels to place pending orders. Your order will not execute immediately, pending orders are waiting to be placed on the exchange when the price touches your order price. Please read How it Works to learn more about order types and how they are placed on the order book.
How to place a stop loss order?
You just need to create a sell order where you want to sell in the SELL panel. The "Ask" is your stop-loss price. After you create the order, it will not sell the coin immediately because you specified a price lower than current price. The order will execute when the price is touched.
You can also use "Additional Options" or "SpeedTrade" to set stop-loss when setting the buy order. If you set the stop-loss with these options when setting the buy order, it will become a pending order only if the buy order executes.
How to place stop loss and take profit orders simultaneously?
With Exchange Valet, you can place unlimited "pending orders". Normally the orders you place on the exchange make your funds unusable, but having pending orders is not going to block your coin balance. This way you can have both stop loss orders and take profit orders set as two regular sell orders. Just use the SELL panel to add simultaneous stop-loss and take-profit orders. Tell me more
How to place SL/TP for the coins that I already bought?
Use the SELL panel to create sell orders where you want to sell.
How can make pre-set trades?
With "Additional Options" and "Speed Trade", you can set entry, stop loss, and take profit orders all at the same time. In the BUY panel, fill all the info for the buy order, then use "Additional Options" to add stop-loss and/or take-profit to that order. You can also use Speed Trade to have 3 targets instead of one.
What is SpeedTrade?
With SpeedTrade, you can set a buy order, targets and stop loss with one click. It just speeds up the process.
How can my orders fail?
1. Valet places your orders when the price is touched or crossed. If you do not have available balance at the time of execution, your order will fail and you will receive desktop/mobile notifications. How to start receiving notifications?
2. You can have as many different stop-losses and take-profits as you want for the same market. If you created SL/TP orders with the buy order, your stop-loss will auto adjust when a take-profit order is triggered. However, this is not the case if you created a the sell order in the sell panel. You have to manually adjust your SL/TP orders created in sell panel.
3. For example, when you have a SpeedTrade with Limit Orders and your buy order didn't feel completely, your other orders will likely fail because you won't have enough coin balance to execute those orders.
How to use trailing stop loss feature?
With trailing stop loss, you will have an initial stop loss, and it will trail when the market has a new high. Your stop loss will follow the price by the offset you set. For example, if you set 5% as your offset, your stop loss will always stay 5% under the highest price the market reaches after you set your trailing stop loss order. Learn more about trailing stop loss
Can I have two different trailing stop losses with different amounts for the same market?
You absolutely can. For example you can choose to sell 70% of your investment with 5% trailing stop loss, and give room to the other portion by having a 15% stop loss. This way you can let the 30% ride. Just set two different trailing stop loss orders with different amounts.
Will my order execute immediately if I use a "Market Order"?
No. Your market order will be pending. It will be executed when the price is touched. Read this page to learn more about how market orders are executed.
My order was placed but not filled?
Your limit orders might not fill if there is not enough buyers and market is moving quickly. You can use "Panic Sell" to increase the chances of Limit Order fill, or use "Market" order type to fill your order immediately. Tell me more
How can I see my new trades in positions?
Use the "Refresh" button to update your positions.
IMPORTANT NOTES
BINANCE ONLY: Make sure you have some BNB balance
If the "Using BNB to pay for fees" option is disabled or you do not have enough BNB balance, Binance will use the coin you are trading to pay the fees(instead of using BNB), and deduct the fee from your trade amount. For example when you buy 625 KEY, Binance will take 0.625 KEY as the trading fee. This will cause your take profit and stop loss orders to fail with "not enough balance" error because those orders will have 625 as the amount but you will only have 625 - 0.625 in your KEY balance. Make sure you have enough BNB and enable the "Using BNB to pay for fees" option in your account settings on Binance website.
How much BNB do I need to keep?
Trading fee when you use BNB is 0.075%. If you are making a $1000 trade, you pay $0.75 BNB fee. Keep some BNB in your account accordingly.
There is no guarantee that your pending LIMIT orders are going to be filled. After a LIMIT order is placed, there might be not enough orders available, and your order might not fill. If you have stop-loss or take-profit orders pending for the same coin, those orders might fail if the buy order was not fully filled, because you will not have enough coins to place the sell order. You can use market orders to make sure your order is filled.