How do stop orders work on GDAX?

3 answers

• Madhav AgarwalAug 21, 2024 · a year ago
  Sure! Stop orders on GDAX are a type of order that allows you to set a specific price at which you want to buy or sell a cryptocurrency. When the market price reaches your specified stop price, a market order is triggered and your trade is executed. This can be useful for managing risk or taking advantage of price movements. For example, you can set a stop order to sell if the price drops below a certain level to limit potential losses. It's important to note that stop orders are not guaranteed to be filled at the exact stop price due to market fluctuations.
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• Aaron SantiagoFeb 25, 2023 · 2 years ago
  Stop orders on GDAX work by allowing you to set a stop price, which is the price at which your order will become active. Once the market price reaches or surpasses your stop price, your order will be triggered and executed as a market order. This means that your order will be filled at the best available price in the market. Stop orders can be useful for both buying and selling cryptocurrencies, as they allow you to automate your trades based on specific price levels.
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• Paul LokubalOct 23, 2020 · 5 years ago
  Stop orders work similarly on most cryptocurrency exchanges, including GDAX. They allow you to set a stop price at which your order will be triggered. Once the market price reaches or surpasses your stop price, your order will be executed as a market order. This can be useful for managing risk, as it allows you to automatically sell if the price drops below a certain level. However, it's important to note that stop orders do not guarantee that your order will be filled at the exact stop price, as market conditions can cause slippage.
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