How do stop market orders and stop limit orders work in the world of cryptocurrency?

1 answers

• Dirty DSep 09, 2020 · 5 years ago
  Stop market orders and stop limit orders are commonly used in the world of cryptocurrency trading. A stop market order is an order to buy or sell a cryptocurrency at the market price once the price reaches a specified stop price. This type of order is useful for traders who want to enter or exit a position quickly. On the other hand, a stop limit order is an order to buy or sell a cryptocurrency at a specified limit price or better, once the price reaches a specified stop price. This type of order provides more control over the execution price, but there is a risk that the order may not be filled if the market price does not reach the limit price. It's important to understand the mechanics of these order types and consider the market conditions before using them in your trading strategy.
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