What is a stop buy order on GDAX and how does it work?

3 answers

• Pacheco BehrensJun 17, 2023 · 2 years ago
  A stop buy order on GDAX is a type of order that allows traders to set a specific price at which they want to buy a cryptocurrency. When the market price reaches or exceeds the specified price, the stop buy order is triggered and a market buy order is placed. This type of order is useful for traders who want to enter a position when the price is rising or when a certain level of resistance is broken. It helps to automate the buying process and can be a useful tool for managing risk and executing trades efficiently.
  520

  260
• Cheyenne KellyMay 26, 2021 · 4 years ago
  A stop buy order on GDAX is like setting a target price for buying a cryptocurrency. Let's say you want to buy Bitcoin at $10,000, but the current price is $9,500. You can place a stop buy order at $10,000, and when the price reaches or exceeds that level, your order will be executed. It's a way to take advantage of price movements and ensure that you don't miss out on buying opportunities. Just keep in mind that the market can be volatile, so it's important to set a realistic price and be aware of potential slippage.
  523

  175
• The WeekndFeb 14, 2024 · a year ago
  A stop buy order on GDAX is a feature provided by the exchange that allows traders to automatically buy a cryptocurrency when the market price reaches a certain level. It works by setting a stop price, which is the price at which the order will be triggered, and a limit price, which is the maximum price at which the order will be executed. When the market price reaches or exceeds the stop price, a market buy order is placed at the limit price. This type of order can be useful for traders who want to enter a position at a specific price or take advantage of a breakout. However, it's important to note that stop orders are not guaranteed to be filled at the specified price, especially in fast-moving markets.
  714

  179