What is the difference between a stop limit order and a regular market order on Robinhood for cryptocurrency trading?

1 answers

• Nov 24, 2021 · 3 years ago
  A stop limit order is a powerful tool for traders who want to have more control over their trades. With a stop limit order, you can set a stop price and a limit price. When the stop price is reached, the order is triggered and converted into a limit order, which will be executed at the limit price or better. This allows you to specify the price at which you want to buy or sell a cryptocurrency, while also protecting yourself from unfavorable price movements. On the other hand, a regular market order is a simple and straightforward order that is executed immediately at the current market price. It guarantees that the order will be filled, but it does not provide any control over the execution price. Market orders are commonly used when you want to enter or exit a position quickly without worrying about the price.
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