What is the stop limit activation price for cryptocurrencies?

3 answers

• Nov 29, 2021 · 3 years ago
  The stop limit activation price for cryptocurrencies is a specific price level set by a trader to trigger a limit order. When the market price reaches or surpasses this activation price, the limit order is executed. It is an important tool for managing risk and automating trading strategies. For example, if a trader wants to sell a cryptocurrency when its price drops to a certain level, they can set a stop limit activation price below the current market price. Once the activation price is reached, a limit order is placed to sell the cryptocurrency at a specified price or better. This helps prevent losses and allows traders to take advantage of price movements.
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• Nov 29, 2021 · 3 years ago
  The stop limit activation price is like a safety net for traders in the volatile world of cryptocurrencies. It allows them to set a price at which they want their order to be triggered. For example, if a trader wants to buy a cryptocurrency when its price goes above a certain level, they can set a stop limit activation price above the current market price. Once the activation price is reached, a limit order is placed to buy the cryptocurrency at a specified price or better. This helps traders enter or exit positions at desired price levels, without having to constantly monitor the market.
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• Nov 29, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers a stop limit activation price feature to its users. This allows traders to set their desired activation price and automate their trading strategies. It is a useful tool for both experienced and novice traders, as it helps them manage risk and execute trades more efficiently. With BYDFi's stop limit activation price feature, traders can take advantage of price movements and make informed trading decisions.
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