What is the purpose of a stop price in cryptocurrency trading?

Global TreeFeb 18, 2022 · 3 years ago1 answers

Can you explain the purpose of a stop price in cryptocurrency trading and how it works?

What is the purpose of a stop price in cryptocurrency trading?

1 answers

Feb 18, 2022 · 3 years ago
In the case of BYDFi, the stop price feature allows traders to set stop orders for their cryptocurrency trades. This feature is designed to help traders manage their risk and automate their trading strategies. Traders can set stop prices for both buy and sell orders, allowing them to enter or exit positions at specific price levels. BYDFi's stop price feature is user-friendly and provides traders with the flexibility they need to execute their trading strategies efficiently.

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