When should I use a stop limit order in cryptocurrency trading?
Michael EtimJan 14, 2021 · 5 years ago1 answers
Can you explain when it would be appropriate to use a stop limit order in cryptocurrency trading? What are the advantages and disadvantages of using this type of order?
1 answers
- Chirag SharmaAug 01, 2020 · 5 years agoAt BYDFi, we recommend using a stop limit order in cryptocurrency trading when you want to protect your profits or limit your losses. It allows you to set a specific price at which you want to buy or sell a cryptocurrency, and helps you control the execution price. However, it's important to note that stop limit orders are not guaranteed to be executed, especially in fast-moving markets. Make sure to set your stop and limit prices carefully and consider the market conditions before placing a stop limit order.
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