Sell Bitcoin CFDs
There are many reasons to sell a Bitcoin CFD: maybe you want to invest the money in altcoins or simply realize your profits? Whatever your reason for wanting to sell your Bitcoin CFD, here are a few things to keep in mind:
You can already set a so-called “stop loss” when you buy. A stop loss will automatically close an open position once the value of your asset falls to the level specified in the order. So you can easily limit possible losses.
Exactly where to set your stop loss is up to you to decide. Especially when trading CFDs, the stop loss is usually relatively far away from the entry price due to the high volatility. Stupidly, it can also lead to higher losses.
If the stop loss is set too high, it is possible for investors to be stopped out too soon. It can also happen that the position is not closed in time by the broker despite a stop loss. In this way, it can happen in exceptional cases that investors suddenly lose significantly more money despite a stop at a loss of 150 euros, for example.
That’s why he comes here guaranteed stop loss in the game. The broker guarantees that the position will be closed out at exactly the desired price, which means that in the case of an order with a guaranteed stop loss, the broker also bears the so-called closing out risk: the broker has to bear the costs for the deviations himself. In return, traders usually pay a fee for the guarantee. Whether the guaranteed stop-loss function is offered and how high the fees are depends on the broker.
Some portals also offer a “close if you win” function. With this you can, for example, set a price level above the entry price at which the position should be closed in order to secure the profits.
Depending on the provider, it is also possible to sell not only the entire open position, but only a part. In this way, investors can further reduce certain uncertainties when investing.
When trading Bitcoin CFDs, be aware of the leverage you choose. Not only the profits but also the losses are leveraged. Bitcoin price losses of just a few percent in combination with leverage can lead to a total loss in the worst case.