Stop/Stop Limit orders are designed to allow ChainEX users to automatically place orders on days where the market is erratic.
With Limit Orders, you specify the price at which you are willing to buy or sell. Although the price is guaranteed, it's not guaranteed that the order will be filled, however (you're essentially waiting for a target price to be reached before the order will be executed).
A Stop Order can be thought of as a trigger for a Market Order when a specified price (buy or sell) is reached. The moment the stop price is reached, the order becomes a Market Order. Thus, although you are guaranteed the order will be filled, you're not guaranteed at which price the order will be filled (as per with a normal Market Order).
A Stop/Stop Limit order is a combination of a stop and limit order and requires two prices. The stop price - which will be the trigger for the order, and the limit price which will be the maximum price (or minimum - depending on whether it's a buy or sell order) at which you are willing to buy or sell. So, although the price of the order is guaranteed, it's not guaranteed that the order will be filled.
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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