Weekend Order Sneak
As we all know the spread (difference between the BUY and SELL price) on Cryptos on eToro increases over the weekend.
Unfortunately there is no way around this but there is a simple technique that I use most of the time and can be employed to capitalize on any momentary drops.
What I’m referring to is the Order feature with-in eToro.
When opening a trade in the top right of the trade box there is a little triangle, when this is pressed you can change from ‘trade’ to ‘order’.
Where you place the order value is completely up to you, and be warned this comes with risk. If you are not watching the charts continuously then momentary crashes can activate all your orders and leave you in the red until the rebound.
However the most intriguing feature that is usually left undiscovered is the ability to present the TP and SL as your setting the order.
I have in the past woken up to very nice notifications that not only has my order been opened, but then closed again afterward after the TP has been hit.
There is a chart attached of $BTC that shows what happened last night when my order activated and already in the green.
To be very clear though, using the order system does not decrease the spread of the weekend,. But can merely help capitalise on the dips and peaks that are very prevelant in the crypto world.