The stop-loss you'll "place if it drops" is the one that never gets placed.
A mental stop is a plan to watch the screen, and the screen loses to sleep and a 3am candle, so $HYPE near 79 USDT is a fine place to put a real one. On the Hyperliquid spot pair, open Sell, switch the order type to OCO, set a take-profit limit above the price and a stop trigger below it with a limit a notch under the trigger, say 5% down and 0.5% under that, example numbers only. One fills, the other cancels, no fee beyond the normal spot fee. Where it fails: a fast gap through your limit leaves the order unfilled, so don't squeeze the limit against the trigger. 🔒
Same logic for any script you hand a key to, because the key is the account. In API Management give it reading plus spot trading only, leave withdrawals off and lock it to one IP; Binance now won't let a standard HMAC key trade at all without an IP on it. One key per tool, and recreate it every few months. Skip this and the usual story is a key pasted into a shared notebook, then the account traded into a thin pair the attacker is dumping, with 2FA never asked.
Today it adds up to a stop that lives on the exchange for $HYPE and a key that can't move a coin off it.
#AutomateYourCrypto #HYPE #APITrading #StopLoss
A mental stop is a plan to watch the screen, and the screen loses to sleep and a 3am candle, so $HYPE near 79 USDT is a fine place to put a real one. On the Hyperliquid spot pair, open Sell, switch the order type to OCO, set a take-profit limit above the price and a stop trigger below it with a limit a notch under the trigger, say 5% down and 0.5% under that, example numbers only. One fills, the other cancels, no fee beyond the normal spot fee. Where it fails: a fast gap through your limit leaves the order unfilled, so don't squeeze the limit against the trigger. 🔒
Same logic for any script you hand a key to, because the key is the account. In API Management give it reading plus spot trading only, leave withdrawals off and lock it to one IP; Binance now won't let a standard HMAC key trade at all without an IP on it. One key per tool, and recreate it every few months. Skip this and the usual story is a key pasted into a shared notebook, then the account traded into a thin pair the attacker is dumping, with 2FA never asked.
Today it adds up to a stop that lives on the exchange for $HYPE and a key that can't move a coin off it.
#AutomateYourCrypto #HYPE #APITrading #StopLoss