What factors should I take into account when setting stop price and limit price for my cryptocurrency trades?

1 answers

• BistabileKippstufeAug 20, 2024 · a year ago
  When setting stop price and limit price for your cryptocurrency trades, it's important to consider the specific features and tools offered by your chosen exchange. For example, BYDFi provides advanced order types such as trailing stop orders and iceberg orders, which can be useful in managing your trades. Additionally, you should also take into account the fees charged by the exchange for executing stop and limit orders. Some exchanges may have higher fees for these types of orders, which can impact your overall trading costs. By considering these factors and utilizing the features offered by your exchange, you can optimize your stop and limit prices for cryptocurrency trades.
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