Which order types should I use when trading on GDAX?

3 answers

• sondes farahFeb 28, 2022 · 3 years ago
  When trading on GDAX, there are several order types you can choose from. The most common ones are market orders, limit orders, and stop orders. Market orders are executed immediately at the current market price. Limit orders allow you to set a specific price at which you want to buy or sell. Stop orders are used to limit losses or protect profits by triggering a market order when a certain price level is reached. It's important to understand the characteristics of each order type and choose the one that best suits your trading strategy.
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• merdin10May 05, 2022 · 3 years ago
  If you're looking for a quick and easy way to buy or sell, market orders are a good choice. They provide instant execution at the current market price. However, keep in mind that the price you get may not be exactly what you see at the time of placing the order due to market fluctuations. If you want more control over the price, you can use limit orders. With limit orders, you can set the maximum price you're willing to pay or the minimum price you're willing to sell at. This allows you to potentially get a better price, but there's a chance that your order may not be filled if the market doesn't reach your specified price. Stop orders are useful for managing risk. You can set a stop order to automatically sell your position if the price drops below a certain level, limiting your potential losses. Overall, the order type you choose depends on your trading goals, risk tolerance, and market conditions.
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• nuochkaFeb 04, 2022 · 3 years ago
  When trading on GDAX, it's important to understand the different order types and when to use them. Market orders are great for quick trades and getting in and out of positions fast. Limit orders are useful when you want to set a specific price at which you want to buy or sell. Stop orders are helpful for managing risk and protecting your profits. It's important to note that GDAX offers advanced order types as well, such as stop-limit orders and trailing stop orders. These advanced order types can provide additional flexibility and control over your trades. However, it's recommended to fully understand how these order types work before using them. Remember to always do your own research and consider your own risk tolerance before making any trading decisions on GDAX or any other exchange.
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