BullX NEO: Buy Orders, Stop Losses, and DCA Tutorial

Timing is imperative in the trenches. This is why having the right tools can make all the difference. 

Strategies like limit orders and Dollar-Cost Averaging (DCA) are essential for managing risk and maximizing gains. Limit orders let you buy or sell at your chosen price, so you’re not glued to the screen 24/7. DCA helps smooth out volatility by spreading your trades over time, whether you're building a position or cashing out profits gradually.

Don't have BullX NEO early access?

If you don't have early access or an early access code to BullX NEO, feel free to review this guide on how to get an early access code and fund your BullX NEO account. Here’s how you can use BullX NEO to take your trading to the next level.

How to Set Buy Orders on BullX NEO

One of BullX NEO's standout features is its buy limit order functionality, allowing you to control your entry points for any token. Here’s how to set one up:

1. Choose the token you want to trade.
2. Click Buy, then select the Limit tab.
3. Input the price you’d like to enter at (your limit price) and the amount of SOL you wish to invest.
4. Confirm your order.

💡 Pro Tip: You can set your limit price up to 100% above or below the current market price, giving you the flexibility to target specific price levels.

This approach ensures you only buy a token when it reaches your desired price, saving you from unfavourable entries.

How to Set Sell Orders

Setting a sell order works exactly like setting a buy order:

1. Select the token you want to sell.
2. Click Sell, then choose the Limit tab.
3. Enter your desired sell price and the amount of the token you wish to sell.
4. Confirm your order.

Sell orders are a great way to lock in profits or set predefined exits for your trades, helping you stick to your trading plan without manually monitoring the market.

Using the DCA Feature to Buy

BullX NEO’s Dollar-Cost Averaging (DCA) feature allows you to automate your purchases over a set period. This is particularly useful for gradually entering a position and reducing the impact of volatility.

To set up a DCA buy:

1. Go to the DCA Tab on the token you’re interested in.
2. Input the total amount of SOL you want to invest.
   • For example, investing 1 SOL over 1 hour with 5 orders means 0.2 SOL will be used for each of the 5 orders within the hour.
3. Set the market cap range for your buys to activate.

Choose the duration (e.g., 1 hour, 1 day) and the number of orders you want to place during that time frame. 

By specifying a market cap range, you can ensure your DCA strategy aligns with your desired price targets.

Using the DCA Feature to Sell

Just as you can use DCA to buy, you can also use it to scale out of a position. DCA selling is an excellent way to take profits gradually or reduce exposure during a downtrend.

To set up a DCA sell:

1. Open the DCA Tab for the token you want to sell.
2. Input the amount of the token you want to sell.
3. Specify the duration and number of sell orders within that time frame.
4. Optionally, set a market cap range to trigger your sell orders.

For example, you could sell 1 SOL worth of a token in 5 orders over an hour, with each order selling 0.2 SOL. This ensures you don’t exit too quickly during a pump or crash, capturing more favorable prices.

Why Use Stop Losses?

While BullX NEO doesn’t currently offer traditional stop-loss features, setting sell orders at predefined prices acts as a functional alternative. By combining sell orders with DCA selling, you can effectively create a layered stop-loss strategy that minimizes losses and secures profits.

Final Thoughts

Meme coins are super volatile meaning managing risk is essential in order to not blow up your portfolio. By leveraging buy and sell orders, automating with DCA, and managing your risk with stop-like features, you can trade more efficiently and profitably.

Thanks to the help of BullX NEO, you can now mitigate your risk and trade with more precision. Ensure to claim your early access code to proceed forward and start trading. Remember to always practice safe trading!