What is the meaning of 'stop on quote' in the context of cryptocurrency trading?

3 answers

• Paul ViennaAug 30, 2024 · a year ago
  In cryptocurrency trading, 'stop on quote' refers to an order type that is triggered when the price of a specific cryptocurrency reaches a certain level. When the price hits the predetermined stop price, a market order is automatically executed. This type of order is commonly used by traders to limit potential losses or to lock in profits. It helps traders to automate their trading strategies and react quickly to market movements. It is important to note that 'stop on quote' orders are not guaranteed to be executed at the exact stop price, especially during periods of high volatility or low liquidity. Traders should always consider the risks associated with this order type and set appropriate stop prices.
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• Mine TopcuogluJun 12, 2022 · 3 years ago
  Stop on quote is a feature in cryptocurrency trading that allows traders to set a specific price at which they want to buy or sell a cryptocurrency. When the market price reaches the stop price, the order is triggered and executed. This feature is useful for traders who want to automate their trading strategies and take advantage of price movements. However, it is important to note that stop on quote orders are not guaranteed to be executed at the exact stop price, especially in fast-moving markets. Traders should always monitor their positions and adjust their stop prices accordingly.
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• leyeOct 09, 2022 · 3 years ago
  Stop on quote is a popular order type in cryptocurrency trading. It allows traders to set a stop price for buying or selling a cryptocurrency. When the market price reaches the stop price, the order is triggered and executed. This feature is useful for traders who want to limit their losses or lock in profits. However, it is important to understand that stop on quote orders are not guaranteed to be executed at the exact stop price, especially in volatile markets. Traders should always consider the risks involved and set appropriate stop prices based on their risk tolerance and trading strategy.
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