How does stop on quote work in the context of digital currencies?

3 answers

• Long PhamSep 30, 2022 · 3 years ago
  Stop on quote is a feature that allows traders to automatically execute a trade when a specific price is reached. In the context of digital currencies, this feature works similarly to traditional markets. When a trader sets a stop on quote order, it means that once the price of a specific cryptocurrency reaches a certain level, the order will be triggered and executed at the market price. This can be useful for both buying and selling, as it allows traders to set a predetermined price at which they want to enter or exit a position. It provides a level of automation and convenience for traders in the fast-paced cryptocurrency market.
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• Faisal Iqbal SajibSep 26, 2020 · 5 years ago
  Stop on quote is like having a personal assistant for your trades. When you set a stop on quote order, it's like telling your assistant, 'Hey, if the price of this cryptocurrency reaches a certain level, go ahead and execute the trade for me.' It's a handy feature that can save you time and help you take advantage of market movements without constantly monitoring the price. Just set your desired stop price, and let the system do the rest. It's a great tool for both experienced traders who want to automate their strategies and beginners who want to take advantage of market opportunities without constantly watching the charts.
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• michael agyemangAug 06, 2021 · 4 years ago
  At BYDFi, we understand the importance of stop on quote orders for traders in the digital currency market. That's why we have implemented this feature in our trading platform. With stop on quote, traders can set their desired stop price and let our system automatically execute the trade when that price is reached. It's a convenient and efficient way to manage your trades and take advantage of market movements. Whether you're a seasoned trader or just starting out, stop on quote can be a valuable tool in your trading arsenal.
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