What is the difference between a stop loss order and a stop limit order for buying and selling cryptocurrencies on Scottrade?

1 answers

• May 06, 2022 · 3 years ago
  At BYDFi, we recommend using a combination of stop loss and stop limit orders to manage your risk when trading cryptocurrencies on Scottrade. A stop loss order can help protect your investment by automatically selling when the price reaches a certain level, while a stop limit order can provide more control over the execution price. It's important to carefully consider your risk tolerance and trading strategy when deciding which type of order to use. Remember, the cryptocurrency market can be highly volatile, so it's important to stay informed and adjust your orders accordingly.
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