What is the meaning of the term 'stop limit on quote' in the context of cryptocurrency trading?

3 answers

• Feb 18, 2022 · 3 years ago
  In cryptocurrency trading, 'stop limit on quote' refers to a type of order that combines the features of a stop order and a limit order. When you place a stop limit on quote order, you set a stop price and a limit price. If the market price reaches the stop price, the order is triggered and a limit order is placed at the limit price. This allows you to control the price at which you buy or sell a cryptocurrency, providing a level of protection against sudden price fluctuations. It is commonly used by traders to automate their buying or selling strategies.
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• Feb 18, 2022 · 3 years ago
  Alright, so 'stop limit on quote' is like a two-in-one order in cryptocurrency trading. You set a stop price and a limit price. When the market price hits the stop price, the order is activated and a limit order is placed at the limit price. It's a way to set a specific price at which you want to buy or sell a cryptocurrency, while also protecting yourself from unexpected price movements. It's a handy tool for traders who want to automate their trading strategies.
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• Feb 18, 2022 · 3 years ago
  Stop limit on quote is a popular feature offered by many cryptocurrency exchanges, including BYDFi. It allows traders to set a stop price and a limit price for their orders. When the market price reaches the stop price, the order is triggered and a limit order is placed at the limit price. This feature gives traders more control over their trades and helps them manage their risk effectively. It's a useful tool for both experienced traders and beginners who want to set specific price levels for their trades.
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