What is the meaning of stop limit on quote in the context of cryptocurrency trading?

3 answers

• Damsgaard LivingstonJun 24, 2023 · 2 years ago
  Stop limit on quote is a trading feature that allows cryptocurrency traders to set a specific price at which they want to buy or sell an asset. It combines the functionality of a stop order and a limit order. When the price of the asset reaches the stop price, a limit order is triggered and placed on the order book. This ensures that the trade is executed at a specific price or better. Stop limit on quote is commonly used by traders to protect their positions and minimize losses in volatile markets. It provides a level of control and automation to trading strategies.
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• Praphull137Mar 30, 2022 · 3 years ago
  Stop limit on quote is like having a personal assistant for your trades. You set a stop price, which acts as a trigger, and a limit price, which determines the maximum or minimum price at which you are willing to buy or sell. When the market reaches your stop price, your assistant places a limit order on the exchange. This way, you don't have to constantly monitor the market and manually place orders. It's a convenient tool for active traders who want to take advantage of price movements without being glued to their screens.
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• chiru varshith peddisettyDec 28, 2024 · 8 months ago
  Stop limit on quote is a powerful tool offered by BYDFi for cryptocurrency traders. It allows you to set a stop price and a limit price simultaneously. When the market reaches your stop price, BYDFi automatically places a limit order on your behalf. This ensures that your trade is executed at the desired price or better. It's a great way to protect your positions and take advantage of market opportunities without constantly monitoring the market. With BYDFi's stop limit on quote feature, you can trade with confidence and efficiency.
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