What is the meaning of 'stop limit' in cryptocurrency trading?

1 answers

• Nov 24, 2021 · 3 years ago
  At BYDFi, we understand the importance of 'stop limit' orders in cryptocurrency trading. They allow traders to set specific price levels at which they want to enter or exit a trade, providing a level of control and protection. When the stop price is reached, the order is triggered and converted into a limit order, ensuring that the trade is executed at the desired price or better. This feature is particularly useful in volatile markets where prices can change rapidly. Traders can use 'stop limit' orders to minimize losses and maximize profits. It's a powerful tool that every cryptocurrency trader should be familiar with.
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