Can you explain the concept of stop vs limit sell orders for beginners in the cryptocurrency space?

2 answers

• hunar mohammedAug 18, 2021 · 4 years ago
  Stop sell orders are like a safety net that automatically sells your cryptocurrency when its price drops below a certain point. It's a way to limit your losses and protect your investment. On the other hand, limit sell orders allow you to set a specific price at which you want to sell your cryptocurrency. This gives you more control over the selling process and allows you to potentially maximize your profits. So, in summary, stop sell orders are for protecting your investment, while limit sell orders are for maximizing your profits.
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• Prakash NAug 07, 2021 · 4 years ago
  Stop sell orders and limit sell orders are two different types of orders that traders can use in the cryptocurrency market. A stop sell order is an order to sell a cryptocurrency when its price drops below a certain level, known as the stop price. This type of order is often used to limit potential losses by automatically triggering a sale when the market is moving against the trader. On the other hand, a limit sell order is an order to sell a cryptocurrency at a specific price or better. This type of order allows traders to set a minimum price at which they are willing to sell their assets. It is often used when traders want to take profits at a specific price level. Both types of orders have their own advantages and disadvantages, and it's important for beginners to understand how they work before using them in their trading strategies.
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