What is the concept of stop limit in Kucoin and how does it work?

1 answers

• gameOct 10, 2024 · a year ago
  Stop limit in Kucoin is similar to stop limit features offered by other cryptocurrency exchanges. It allows users to set a stop price and a limit price for buying or selling a cryptocurrency. When the market price reaches the stop price, a limit order is triggered and placed at the limit price. If the market price reaches or goes beyond the limit price, the order is executed. This feature is useful for traders who want to automate their trading based on specific price levels. It helps them take advantage of price movements without constantly monitoring the market. However, it's important to note that stop limit orders are not guaranteed to be filled, especially in fast-moving markets. Traders should carefully consider their risk tolerance and market conditions before using this feature.
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