 What is going on guys? Welcome to Bitcoin Daily. My name is Jay and today we are showing you guys how to open conditional orders on Bybit. These are also known as stop orders, stop market orders. They could also be stop limit orders. Depending on the exchange that you're using it probably has a different name. Basically what these orders are is if it reaches a certain threshold then the order triggers. So we are showing you how to do this on the Bybit mobile today. I know a lot of you trade on mobile and we do most of our trading on mobile as well. I will also show you guys how to set up a stop loss, how to set up take profit orders and last but not least how to set up trail stops on Bybit mobile. Let's dive right in. Alright so the entry for the trade that I'm already in that I recorded the video on had already triggered. So I'm showing you how to set up the order for the next entry that I will be looking for. Basically this is a breakout entry where I'm looking for the order to trigger if it goes above a certain price. So in this case you will see that I am setting up the conditional order here then I'm selecting market on both of these. I'm entering the trigger price. So remember the trigger price here is where I want the order to trigger and activate once it hits that number. So you can see here the current price was at $62,613 and where I want my order to activate is at $65,025. So once this price reaches $65,025 this order will then trigger. You can see here this is where I enter how much I would like to open on this order. Here it basically tells me the order value but remember this is with leverage. So my order although my order value is that much that's not what I'm actually risking on this trade. And then here where it says buy long this actually shows you the amount that you would be risking. So mine is going to be a little bit different because I'm currently using cross leverage. I recommend for you guys to use isolated leverage and never use more than 10x. Now guys I've been doing this for a while so I know how to manipulate the leverage but I recommend for anybody that's new stick to isolated leverage until you're a consistent winning trader. Remember all leverage does is amplify the type of trader that you are. So if you're a consistently winning trader then the leverage is going to make you more money. If you're consistently losing trader leverage is going to make you lose more money. So stay small guys stick to the rules and you will get there. So to recap the setup here remember we go here we hit conditional then we go here we set both of these up as market orders and then we enter how big of our position we want to open here. Now remember that market orders you do have to pay a fee on on limit orders you do not have to pay a fee on. Why do I choose market over limit because with a market order I'm guaranteed for my order to trigger and to fill while a limit order is not guaranteed to fill my order. So I rather pay a fee to make sure that my trade triggers and gets filled then miss out on money because I had a limit order because I didn't want to pay the fees and my trade does not get filled. So I end up missing out on the trade and of course missing out on profits. I don't want to miss out on profits. So once you do that you can go ahead and hit by long and you will see that the order has been submitted there and you'll see it over here where it says orders not under positions. So positions will be your active orders orders will be the order that you just set up. So you see the trigger price 65 25. Another thing to note is make sure that close on trigger is not on if it's on your order will not open. All right. So let's say that our order then finally triggers. I wasn't able to capture the trigger for sixty two twenty five which is why I showed you guys how to do it for the next order that I was setting up. But let's say that our order was set for sixty two thousand twenty five and our order finally triggers. So you can now see here that your under positions your order is there. This is your position size your entry price your unrealized price and your liquidation price. So the next thing is we have to set up a stop loss. That's the first thing you want to do here. So to set up a stop loss you're just going to click right here where it says set TPSL and then you're going to go right here where it says stop loss and set the price that you want to stop out at. Now you're not going to click any of these because if you click any of these what that means is that it will set your stop loss at you know five percent from entry fifteen percent from entry etc. So what you do here is you set the price that you want to stop out at for this trade our stop loss was set at sixty one thousand seven hundred and fifty dollars then here you can click on last or index it it kind of depends if you set this one to last then sometimes the price might just touch 750 stop you out and then jump right back up if you have it on index or mark then if the price goes down touches 750 and goes back up it will not stop you out because this is basically an average price not the last price. So that's why for stop losses I prefer index and mark as when I'm setting it up here rather than last. So now we have that ready and we can just confirm as you guys can see order submitted was short for the full amount so I will I will stop out for my full position size here. Now the next step we have to set up where we're going to take profits. So for this trade we're taking profits at sixty two thousand five hundred dollars sixty two thousand seven fifty and sixty two thousand nine hundred. So to set that up you're simply going to go back up here where it's conditional but now you're going to switch from conditional to limit orders for taking profits you're always setting that up in limit orders. So I go up here I set limit I come over here I set the price which is sixty two thousand five hundred and I set how many I want to sell there. So I'm selling 25 percent of my positions which is 25,000. I hit sell short and here you can also hit reduce only to make sure that you're only reducing your position but you don't have to. So now you see that the order is submitted and now we're going to set up our second take profit area which is sixty two seven fifty again for twenty five thousand contracts that one is done and the third take profit is sixty two nine hundred twenty five thousand contracts again sell and that order is submitted. Now if you go to orders you can see here that all our orders are ready to go including our stop loss and our three take profits areas. Now if you're wondering why we don't set up our take profits here in this section where it says take profit stop loss is because if you set the take profit here it will close your entire position you don't have the option here to only close you know 25 percent of your position or set up multiple take profits. So that is why we don't take we don't set up our take profits here we just create individual orders for each spot that we're taking profits at and of course after we take profit three times that's seventy five thousand out of our one hundred thousand. So what do we do with the final twenty five thousand well that's called the runner strategy we're letting that one run up as high as possible to maximize those. With that you can use a trough stop for it once it keeps running or you know if it reaches a spot that it starts going down and you want to just kind of close it out you can close it out at any time as well. Of course you could also set a regular normal stop loss on it. So you can go back to this section here and change the stop loss at any time. All right so now you're in the trade you've set up your stop loss and your three different spots to take profit and guess what we hit our first area to take profit we're above that as you guys can see so our take profit has already hit. So you'll notice now our position size is down to seventy five thousand remember we started with a hundred thousand so we're currently up fifty four percent on our trade and our unrealized profits is zero point zero one oh three. So once it gets to this point I like to go back to my stop loss here and just take it out. So I'm going to delete my stop loss here because I no longer need it I'm going to now turn this into a trelling stop. So how do we do this now instead of going to set TPSL we're going to click where it says all orders once you click all orders then you're going to see this right here where it says trelling stop you'll see that we're currently up about five hundred and fifty nine dollars plus we've taken already twenty five percent profits off the table. So now for the remainder of the trade we're going to hit trelling stop and then we're going to put on under price retracement two hundred what does two hundred means that means two hundred dollars so that just means that the price will trail by two hundred dollars of whatever the best price is right so whatever the highest the price goes the trail stop will basically be chasing it by two hundred dollars so if the price goes to a high of sixty two thousand seven hundred then my stop loss is going to be at sixty two thousand five hundred if the price goes to sixty two thousand seven fifty my stop loss moves up to sixty two thousand five fifty so it's trailing by two hundred right now if it's at seven fifty and it drops back down to five fifty guess what my my stop loss does not drop down my stop loss stays there and I will stop out at that price that's why it's called a trailing stop it trails the best price possible the highest the price goes by whatever number you use it I usually trail it by it could be a hundred two hundred three hundred it just depends every every trade varies it depends how I'm feeling about it so you guys can try out different numbers and see which you prefer best all right so good news guys the trade has continued up we're up around sixty nine percent right now eight hundred and thirty dollars plus of course we've already taken twenty five percent profit so we're basically up around a thousand dollars at the moment and we're about to hit our second spot where we're going to take profits so if you go to Realize P&L you can see where your trade closed and you can see that our trade closed for twenty five thousand at sixty two thousand five hundred dollars and this is the amount that it closed for you can see that the day before I had one that was running a lot more and I closed the full position here at this price I entered at sixty one and I exited at sixty two seven twenty nine for the full position I had that one with the trail stop already guys so our second take profit order just triggered you can see that we're currently right at that second spot and our position size is now down to fifty thousand so let's go ahead and take a look at this if we take a look here at Realize P&L you can see that our twenty five thousand dollar contract closed here at sixty two seven fifty you'll notice up top when you have a trail stop up that it's constantly moving and that's because as the price goes up higher and higher that trail stop is going to be chasing it by two hundred so prices are still going up you can see that our trail stop continues to move as the price moves higher here currently up six hundred plus the profit we've already taken so we're up over a thousand at the moment on this trade and we're just going to see if we can hit our final and last take profit spot so you'll see here at eleven oh two we closed out another twenty five thousand at sixty two thousand seven fifty remember that was our take profit two position and then at eleven oh six so about four minutes later we ended up trailing out the remainder of the position which was fifty thousand at sixty two thousand five eighty nine so it retraced a bit remember I told you guys we are trailing it by two hundred so it went up to seven fifty and it went up a little bit higher and then it came back down so because it came back down it dropped by two hundred dollars we trailed out the remaining position and now we're basically done for now you can see the profits we made a little bit over a thousand dollars on this trade and you can see that the trade was really only we were in the trade I believe less than 15 minutes maybe so it's a very short trade we made you know about a thousand dollars in a matter of 15 20 30 minutes hopefully you guys were able to learn something from this and with by bit mobile how to open your trades how to manage your trades how to set stops how to set it up trailing stops and how to take profits if you guys enjoyed this video make sure to smash the like button on it if this is your first time on the channel don't forget to subscribe turn on notifications and if you have any questions about anything that we covered today drop it in the comments if you guys are not signed up with buy bit yet and are looking to check it out and sign up you guys can go down to the description of this video like so hit see more and then just simply go down to where it says trade on buy bit with leverage click that link and that will support the channel thank you guys for tuning in I'll see you on the next one as always peace and love