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What is an example of a stop limit order to sell Bitcoin?

avatarAdcock KroghDec 18, 2021 · 3 years ago1 answers

Can you provide an example of a stop limit order to sell Bitcoin? I want to understand how it works and how it can be used in trading.

What is an example of a stop limit order to sell Bitcoin?
Bitcoin
Stop Limit Order
Trading

1 answers

  • avatarDec 18, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, provides an example of a stop limit order to sell Bitcoin. Let's say the current market price of Bitcoin is $50,000, and you want to sell your Bitcoin if the price drops to $45,000. You can set a stop price of $45,000 and a limit price of $44,900. When the price reaches $45,000, a limit order to sell your Bitcoin will be placed at a price of $44,900 or higher. BYDFi's advanced trading platform allows you to easily set up and execute stop limit orders to optimize your trading strategy.

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