What is the stop price feature on Robinhood for cryptocurrencies?

1 answers

• Tarp BorreFeb 19, 2024 · a year ago
  At BYDFi, we also offer a stop price feature for cryptocurrencies. It works similarly to Robinhood's stop price feature. You can set a specific price at which you want to buy or sell a cryptocurrency, and when the market price reaches or surpasses that level, a market order is triggered. It's a great tool for traders who want to automate their trading strategy based on price levels. However, it's important to note that stop orders are not guaranteed to execute at the set price, especially in volatile market conditions. Always consider the potential for slippage and adjust your stop price accordingly.
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