What is a stop limit order on Binance?

3 answers

• Feb 18, 2022 · 3 years ago
  A stop limit order on Binance is a type of order that combines the features of a stop order and a limit order. It allows traders to set a stop price and a limit price for buying or selling a cryptocurrency. When the stop price is reached, the order is triggered and a limit order is placed at the specified limit price. This type of order is useful for managing risk and executing trades at specific price levels.
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• Feb 18, 2022 · 3 years ago
  Sure! A stop limit order on Binance is like having a safety net for your trades. You set a stop price, which is the price at which the order will be triggered. Then, you set a limit price, which is the price at which you want to buy or sell the cryptocurrency. When the stop price is reached, the order is activated and a limit order is placed at the limit price. It's a way to automate your trading strategy and protect yourself from sudden price movements.
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• Feb 18, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers stop limit orders as a feature for traders. With a stop limit order on BYDFi, you can set a stop price and a limit price to buy or sell a cryptocurrency. When the stop price is reached, the order is triggered and a limit order is placed at the limit price. It's a great tool for managing your trades and executing them at specific price levels. Give it a try on BYDFi and see how it can enhance your trading experience!
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