ChainEX offers Stop and Stop Limit orders as a solution for traders to automate their trading strategy in volatile markets. With Limit Orders, traders set a price at which they are willing to buy or sell, but the order is not guaranteed to be filled. A Stop Order serves as a trigger for a Market Order when a specified price is reached, guaranteeing that the order will be filled but not the price. A Stop Limit Order combines the two, requiring two prices: a stop price as the trigger and a limit price as the maximum or minimum price at which the order can be executed. With a Stop/Stop Limit Order, traders can maximize their profit potential while minimizing their risk exposure. Learn more about how Stop/Stop Limit Orders work on ChainEX.
When placing a Stop/Stop Limit order, you will need to select/enter all the required/desired information below, in order for your order to be fulfilled:
Stop Order example: (ETH/BTC)
Buy Stop Order:
The current Market price for 1 ETH is 0.017 BTC. Once the Market price rises to 0.018 BTC and triggers your Stop price of the same value, a Market order will be placed at the current Market price.
Sell Stop Order: (ETH/BTC)
The current Market price for 1 ETH is 0.017 BTC. Once the Market price drops to 0.016 BTC and triggers your Stop price of the same value, a Market order will be placed at the current Market price.
Stop Limit Order example: (ETH/BTC)
Buy/Sell Stop Limit Order:
You would like to Buy/Sell 1 ETH once the Market price reaches 0.018 BTC but, you don't want to pay anything more or receive anything less than 0.0181 BTC. You would then set your Stop price to 0.018 BTC and your Limit price to 0.0181 BTC. Once the Market price reaches 0.018 BTC, a LImit order or 0.0181 BTC will be placed and will get filled at 0.0181 BTC or better
For a step-by-step tutorial on How to use Stop/Stop Limit orders, Click here.
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