How does Robinhood handle stop limit orders for buying and selling cryptocurrencies?

3 answers

• pimnichakornOct 18, 2020 · 5 years ago
  Robinhood handles stop limit orders for buying and selling cryptocurrencies by allowing users to set a specific price at which they want to buy or sell. When the market price reaches the specified price, the order is triggered and executed automatically. This feature helps users to manage their trades more effectively and take advantage of price fluctuations. However, it's important to note that stop limit orders are not guaranteed to be executed, especially in volatile markets where prices can change rapidly. Users should also be aware of any fees or restrictions that may apply to stop limit orders on Robinhood.
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• InkwizzzOct 14, 2020 · 5 years ago
  Stop limit orders on Robinhood for buying and selling cryptocurrencies work by setting two price levels: the stop price and the limit price. The stop price is the trigger price at which the order is activated, while the limit price is the maximum or minimum price at which the order can be executed. When the market price reaches the stop price, the order is triggered and becomes a limit order. If the market price reaches or exceeds the limit price, the order is executed. This allows users to set a specific entry or exit point for their trades and helps to mitigate potential losses or lock in profits. However, it's important to monitor the market closely and adjust the stop and limit prices accordingly to ensure the desired execution of the order.
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• Oleksandr MaksymenkoNov 20, 2020 · 5 years ago
  At BYDFi, we handle stop limit orders for buying and selling cryptocurrencies in a similar way to Robinhood. Users can set a stop price and a limit price to trigger and execute their orders. This feature is designed to help users manage their trades and protect their investments. However, it's important to note that stop limit orders are subject to market conditions and liquidity. In volatile markets, there may be instances where the order is not executed at the desired price. Users should also be aware of any fees or restrictions that may apply to stop limit orders on BYDFi.
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