How To Use BONKbot's New Limit Order Features
Now that BONKbot has unveiled its new Limit Order, you're going to want to know the best way to utilise the features in your trading.
Keep reading as we:
Set up your BONKbot Limit Order (Buy)
Set up your BONKbot Limit Order (Sell)
Show you how to set a Trailing Stop Loss
Help you to manage your open Limit Orders
Answer your burning questions
Let’s begin.
Setting Up Your BONKbot Limit Order (Buy)
You can set a Limit Buy when you want to buy tokens automatically if certain conditions are met.
To get started:
Click “Limit” in the Buy Menu: A green check will confirm the selection of your order type
Click “Buy”: Choose between a preset SOL amount or enter a custom amount (e.g. 0.5 SOL)
Enter a trigger: Choose between Market Cap, Price in USD, Multiple, or percent change:
Market Capitalization (MCap) in thousands (K), millions (M), or billions (B). For example, "2B" means the order will trigger when the token's market cap hits 2 billion.
Price in USD: Specify the price at which to execute the buy (e.g., “0.05” for $0.05 per token).
Multiple: You can enter a multiple of the current price or market cap (e.g., “0.8x”).
Percentage Change: Set a percentage increase or decrease from the current price (e.g., “+5%” or “-5%”).
Review Your Order: BONKbot shows the final order, ready for user confirmation. Double-check your input of choice (e.g. multiple, % change etc).
Click ‘Confirm’: Once satisfied with the setup, hit the button.
Confirmed: Your Limit Buy order is now set and will remain open until the condition is met or you cancel it.
So, that's setting a Limit Buy on BONKbot.
What about when making a sale?
Setting Up Your BONKbot Limit Order (Sell)
Unsurprisingly, the process when making a sale is almost identical. In this instance, you want to sell at a higher price.
For example, if Bitcoin is currently selling at $55,000 and you want to sell when it hits $59,000, follow these steps:
Click “Limit”: This is found in the “Sell” menu. A green check will confirm the selection of your order type.
Click “Sell”: You can either choose a preset BTC amount to sell or enter a custom amount (e.g. 1 BTC).
Enter the trigger for your Order - in this example it would be 59,000 (Price in USD), but remember you can choose an alternative:
(Market Cap, Multiple, or percent change)
Review Your Order: BONKbot shows the final sell order ready for user confirmation.
Click ‘Confirm’: If you are satisfied with the setup, click “confirm”.
Confirmed: Your Limit Sell order is now set and will remain open until the condition is met or you decide to cancel it.
Limit orders are just one way of doing things.
Some people prefer an alternative system, known as a Trailing Stop Loss.
How to Set a Trailing Stop Loss
A Trailing Stop Loss automatically adjusts your sell order trigger as the price moves in your favor.
Let's put this into a realistic example to see how a stop loss mechanism works.
You bought Bitcoin at $50,000 and set a trailing stop loss of 5%:
Your Initial Position:
Purchase price: $50,000
Trailing stop: 5% below = $47,500
If the price drops to $47,500, it sells automatically to protect your investment
Price Rises to $55,000:
Your trailing stop automatically moves up too
New stop level: $52,250 (5% below $55,000)
You've now locked in at least $2,250 in profit
Price Rises Further to $60,000:
Trailing stop moves up again
New stop level: $57,000 (5% below $60,000)
You've now locked in at least $7,000 in profit
A regular stop loss would stay fixed at your set price, whereas a trailing stop loss (this is the BONKbot Stop Loss option) "follows" the price up like a rising safety net. It only moves up, never down, helping you to lock in profits, while also giving room for normal price swings.
You can set up a Trailing Stop Loss by:
1. Selecting the "Limit" option under 'Sell'
2. Entering a trigger value below the current price
3. Activating the 'Trailing Stop Loss' feature, which is turned off by default.
Once complete, managing open limit orders is simple.
Keep reading to learn how.
Managing Open Limit Orders
You can view and manage your open limit orders directly in the BonkBot interface by visiting the “Position Management” section.
Navigate to the “Open Limit Orders” section to see your active buy and sell orders.
Each open order will show the trigger condition, the amount to buy/sell, and the current status (e.g., whether the order is partially filled or not).
You can cancel an open order at any time by selecting the “Cancel” option next to the respective order.
Sign Up Today & Enjoy Exclusive Features
To enjoy using all of BONKbot’s Telegram trading features, including the latest Limit Order and Trailing Stop Loss additions, sign up or log in to BONKbot now.