How does a stop order work on Coinbase Pro?

3 answers

• Malek AbdallaFeb 29, 2024 · a year ago
  A stop order on Coinbase Pro is a type of order that is triggered when the price of a cryptocurrency reaches a specified level. It is commonly used to limit potential losses or to lock in profits. When you place a stop order, you set a stop price, which is the price at which the order will be triggered. Once the stop price is reached, the order is executed as a market order, which means it will be filled at the best available price. It's important to note that stop orders do not guarantee execution at a specific price, especially in volatile markets. So, it's always a good idea to monitor your stop orders closely to ensure they are triggered at the desired price level.
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• Priyansh ShahApr 17, 2024 · a year ago
  Sure! A stop order on Coinbase Pro is a way to automatically buy or sell a cryptocurrency when its price reaches a certain level. For example, if you're holding Bitcoin and you want to sell it if the price drops below $30,000, you can place a stop order with a stop price of $30,000. If the price of Bitcoin reaches $30,000 or lower, your stop order will be triggered and your Bitcoin will be sold. Stop orders can be useful for managing risk and protecting your investments, but it's important to set the stop price carefully and monitor the market closely to ensure your order is executed at the desired price.
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• AniketMay 18, 2024 · a year ago
  A stop order on Coinbase Pro is a type of order that allows you to automatically buy or sell a cryptocurrency when its price reaches a certain level. It can be a useful tool for managing risk and taking advantage of price movements. For example, if you're holding Ethereum and you want to sell it if the price goes below $2,000, you can place a stop order with a stop price of $2,000. If the price of Ethereum drops to $2,000 or lower, your stop order will be triggered and your Ethereum will be sold. It's important to note that stop orders can be subject to slippage, especially in fast-moving markets, so it's a good idea to set your stop price with some buffer to account for potential price fluctuations.
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