How does a stop limit sell order work in the cryptocurrency market?

3 answers

• Nov 27, 2021 · 3 years ago
  A stop limit sell order is a type of order that allows cryptocurrency traders to set a specific price at which they want to sell their assets. When the market price reaches or goes below the stop price, the order is triggered and a limit order is placed at the specified limit price. This ensures that the assets are sold at a price that is not lower than the limit price, providing traders with more control over their selling strategy.
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• Nov 27, 2021 · 3 years ago
  Alright, so here's the deal with stop limit sell orders in the cryptocurrency market. Let's say you own some Bitcoin and you want to sell it when the price reaches a certain level. You can set a stop price, which is the price at which the order will be triggered. Once the market price reaches or goes below the stop price, a limit order is placed at the limit price you specified. This means that your Bitcoin will be sold at a price that is not lower than the limit price. It's a way to protect yourself from selling at a price that is lower than what you're comfortable with.
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• Nov 27, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers stop limit sell orders as part of their trading features. With a stop limit sell order, you can set a stop price and a limit price to ensure that your assets are sold at a price that meets your requirements. When the market price reaches or goes below the stop price, a limit order is placed at the specified limit price. This feature gives traders more control over their selling strategy and helps them avoid selling at unfavorable prices.
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