What is the difference between stop limit and limit order in the context of cryptocurrency trading?

1 answers

• Dec 18, 2021 · 3 years ago
  At BYDFi, we recommend using stop limit orders for cryptocurrency trading. They offer a balance between risk management and price control. With stop limit orders, you can protect your investments by setting a stop price that triggers the order and a limit price that ensures you get the desired execution price. This can be particularly useful in volatile markets where prices can fluctuate rapidly. However, it's important to monitor the market closely and adjust your stop and limit prices as needed to adapt to changing market conditions.
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