What is the difference between stop and limit orders on Binance?

3 answers

• dark ninjaSep 25, 2022 · 3 years ago
  Sure! Stop and limit orders are both popular order types used in trading on Binance. A stop order is an order that becomes a market order once the specified stop price is reached. It is used to limit losses or protect profits. On the other hand, a limit order is an order to buy or sell a cryptocurrency at a specific price or better. It allows traders to set a specific price at which they want to buy or sell, ensuring that they don't pay more or receive less than their desired price. Both order types have their own advantages and can be useful in different trading scenarios.
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• Mohamed Ait kajateSep 05, 2023 · 2 years ago
  Stop orders and limit orders are two different order types on Binance. A stop order is typically used to limit losses or protect profits. When the stop price is reached, the stop order becomes a market order and is executed at the best available price. On the other hand, a limit order is used to buy or sell a cryptocurrency at a specific price or better. It allows traders to set a specific price at which they want to enter or exit a trade. Understanding the difference between these order types is important for successful trading on Binance.
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• Carl Farris CarlSep 22, 2024 · 10 months ago
  Stop and limit orders are commonly used on Binance. Stop orders are triggered when the price of a cryptocurrency reaches a specified stop price. They are often used to limit losses or protect profits. On the other hand, limit orders allow traders to set a specific price at which they want to buy or sell a cryptocurrency. This can be useful when traders want to enter or exit a trade at a specific price level. By using different order types, traders can have more control over their trades and potentially improve their trading strategies.
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