What is the difference between stop and limit orders on GDAX?

3 answers

• BehemotkowaJul 21, 2020 · 5 years ago
  A stop order is an order to buy or sell a cryptocurrency once the price reaches a specified level. It is used to limit losses or protect profits. On the other hand, a limit order is an order to buy or sell a cryptocurrency at a specific price or better. It allows traders to set a maximum or minimum price at which they are willing to buy or sell. Both stop and limit orders are important tools in trading, but they serve different purposes and have different execution mechanisms on the GDAX platform.
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• Rahul MDec 13, 2020 · 5 years ago
  Stop orders are like safety nets that can help you avoid significant losses or secure profits. When the price of a cryptocurrency reaches the stop price you set, a stop order becomes a market order and is executed at the best available price. Limit orders, on the other hand, give you more control over the price at which your order is executed. You can set a specific price or better, and if the market reaches that price, your order will be executed. It's important to understand the difference between these order types to effectively manage your trades on GDAX.
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• Dhananjay HireyJul 27, 2021 · 4 years ago
  Stop and limit orders are both useful tools on GDAX. Stop orders can be used to protect your investments by automatically selling if the price drops below a certain level or buying if the price rises above a certain level. Limit orders, on the other hand, allow you to set a specific price at which you want to buy or sell. This can be useful if you want to wait for a specific price before entering or exiting a trade. Understanding how these order types work can help you make more informed trading decisions on GDAX.
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