What is a stop limit order in the crypto market?

3 answers

• Nov 28, 2021 · 3 years ago
  A stop limit order is a type of order that combines the features of a stop order and a limit order. It allows traders to set a specific price at which they want to buy or sell a cryptocurrency. When the market reaches the specified stop price, the order is triggered and becomes a limit order. The limit order is then executed at the specified limit price or better. This type of order is useful for managing risk and protecting profits in volatile markets.
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• Nov 28, 2021 · 3 years ago
  Imagine you're trading cryptocurrencies and you want to make sure you don't lose too much money if the price drops. A stop limit order can help you with that. You set a stop price, which is the price at which you want the order to be triggered. Once the market reaches that price, your order becomes a limit order, which means it will only be executed at a specific price or better. This way, you can protect yourself from sudden price drops and minimize your losses.
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• Nov 28, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers stop limit orders to its users. With a stop limit order, you can set a stop price and a limit price to buy or sell a cryptocurrency. When the market reaches the stop price, your order becomes a limit order and will be executed at the limit price or better. This feature allows traders to automate their trading strategies and take advantage of market movements without constantly monitoring the market.
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