Introduction 🌍💡
One of the keys to successful crypto trading is knowing how to enter and exit trades efficiently. Spot trading is the most common way to buy and sell cryptocurrencies, and exchanges like CoinCatch provide advanced tools to manage your risk and maximize profits.
In this guide, we’ll walk through how to use limit orders, market orders, and take-profit/stop-loss (TP/SL) settings in spot trading on CoinCatch. Whether you’re trading Ethereum, Bitcoin, Ripple, or BNB, mastering these tools can make your trading safer and more profitable.
Pro Spot Trading on CoinCatch 🌟 | Buy & Sell with Market & Limit Orders 🔥 (Part 5)
What is Spot Trading? 📊
Spot trading is the process of buying and selling cryptocurrencies at their current market price. Unlike futures trading, there’s no leverage involved—meaning your risks are lower, but so are your potential profits.
With CoinCatch Spot Trading, you can:
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Buy and sell coins directly (BTC, ETH, XRP, BNB, etc.)
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Place limit orders to buy/sell at your chosen price
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Use market orders to execute instantly
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Set Take-Profit (TP) and Stop-Loss (SL) orders to automate exits
Step 1: Making a Deposit 💵
Before trading, you’ll need to deposit funds into your CoinCatch account. In the tutorial, a $100 test deposit was made. Deposits and withdrawals are available in the education section of CoinCatch with full video guides.
Step 2: Choosing Your Order Type 🛒
When placing a trade, you’ll see three main options:
1. Limit Order
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Set the price at which you want to buy or sell.
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Example: If ETH is $3,500, you can place a limit buy at $3,495.
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Lower fees compared to market orders.
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Best for larger trades or when you have a target entry.
2. Market Order
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Executes instantly at the best available price.
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Example: Buying $20 worth of Ripple (XRP) at the current market rate.
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Faster but usually comes with slightly higher fees.
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Ideal for small amounts or quick entries.
3. OCO & Trigger Orders (Advanced)
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OCO = “One Cancels the Other.”
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Allows you to set both a TP and SL at the same time.
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More advanced, but great for managing risk.
Step 3: Setting Take-Profit (TP) & Stop-Loss (SL) 🎯
When placing your buy or sell order, you’ll see the TP/SL option.
Example trade on Ethereum (ETH):
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Entry: $3,500
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Take-Profit: $3,589 (+2.5%)
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Stop-Loss: $3,495 (–0.15%)
This means:
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If ETH goes up, your position closes in profit.
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If ETH goes down, your loss is limited.
👉 You can set TP/SL as a specific price or as a percentage of gain/loss.
Step 4: Using TP/SL with Market Orders 🏦
If you’re trading with small amounts, you can use Market + TP/SL:
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Example: Buy $20 worth of XRP at market price.
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Set +10% Take-Profit and –10% Stop-Loss.
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The system manages the trade automatically.
This is especially useful for beginners who want to practice risk management.
Step 5: Example with BNB (Binance Coin) 🔥
Suppose you buy BNB at $700.
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Set TP at $750.
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Set SL at $680.
You can choose:
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Market Sell: closes the position immediately once price is hit.
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Limit Sell: places an order to sell at your chosen price.
👉 Always try to set your TP/SL when opening a trade. You can edit or cancel it later.
Pro Tips for Safer Trading 💡
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✅ Always use Stop-Loss to protect capital.
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✅ For larger amounts, use Limit Orders to save on fees.
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✅ For quick small trades, Market Orders are fine.
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✅ Practice on a demo account before trading with real money.
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✅ Futures trading offers higher profits, but comes with greater risk—start with spot trading first.
FAQs ❓
1. Can I edit or cancel TP/SL orders later?
Yes ✅, you can adjust or cancel anytime in your open orders section.
2. Is Market or Limit order better?
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Market = faster but higher fees.
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Limit = cheaper fees, better for planned trades.
3. Can beginners use TP/SL?
Absolutely! It’s one of the best tools for risk management.
4. Should I start with Spot or Futures?
Start with Spot Trading to learn safely, then move to Futures when experienced.
Key Takeaways 📝
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Spot Trading is simple and beginner-friendly.
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Limit Orders = planned entries, Market Orders = fast execution.
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TP & SL are essential for risk management.
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Always practice with demo accounts before trading big.
Conclusion 🎯
Trading without risk management is like driving without brakes. With CoinCatch Spot Trading, you can set Take-Profit and Stop-Loss orders to protect your capital and secure profits automatically.
👉 Start practicing with small amounts, use demo accounts, and once confident, move to larger trades or Futures for higher gains.
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