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

3 answers

• anita parmarJan 08, 2023 · 3 years ago
  A stop limit order is a type of order that combines the features of a stop order and a limit order. It allows traders to set a specific price at which they want to buy or sell an asset. When the market price reaches the stop price, the order is triggered and becomes a limit order. The limit order specifies the maximum or minimum price at which the trader is willing to buy or sell the asset. On GDAX, a stop limit order can be placed by selecting the stop limit order option and entering the stop price and the limit price. This type of order gives traders more control over their trades and helps them manage risk effectively.
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• Iain LynchApr 05, 2024 · a year ago
  A stop limit order is a useful tool for traders on GDAX. It allows them to set a stop price, which is the price at which the order is triggered, and a limit price, which is the maximum or minimum price at which the trader is willing to buy or sell the asset. When the market price reaches the stop price, the order is triggered and becomes a limit order. This type of order helps traders protect their profits and limit their losses. GDAX provides a user-friendly interface for placing stop limit orders and offers a wide range of trading pairs for cryptocurrencies.
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• HoovyManJun 17, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also supports stop limit orders. Traders can set a stop price and a limit price to execute their trades automatically. This feature is particularly useful for traders who want to enter or exit positions at specific price levels. BYDFi offers a seamless trading experience and provides advanced trading tools for experienced traders. With BYDFi, traders can take advantage of market volatility and implement their trading strategies effectively.
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