Can you explain the functionality of stop and limit orders on Binance for trading digital assets?

1 answers

• Dec 16, 2021 · 3 years ago
  Stop and limit orders are a fundamental part of trading digital assets on Binance. With a stop order, you can set a specific price at which you want to buy or sell an asset. When the market reaches that price, your order will be executed as a market order. This type of order is commonly used to limit losses or protect profits. On the other hand, a limit order allows you to set the maximum price you're willing to pay for an asset or the minimum price you're willing to sell it for. By using limit orders, you can ensure that your trades are executed at the desired price or better. Both stop and limit orders provide traders with more control over their trades and allow them to implement their trading strategies effectively. It's important to note that the functionality of stop and limit orders may vary on different exchanges, so it's always a good idea to familiarize yourself with the specific features and options available on the exchange you're using.
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