What is the stop-limit feature on Binance and how does it work?

3 answers

• Dec 17, 2021 · 3 years ago
  The stop-limit feature on Binance is a tool that allows users to set a specific price at which they want to buy or sell a cryptocurrency. It combines the functionality of a stop order and a limit order. When the market price reaches the stop price, a limit order is triggered and placed on the order book. This ensures that the order is executed at a specific price or better. It is a useful tool for traders who want to automate their trading strategy and protect their positions from sudden price fluctuations.
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• Dec 17, 2021 · 3 years ago
  The stop-limit feature on Binance is like having a personal assistant who executes your trades for you. You set a stop price, which is the price at which you want the trade to be triggered. Then, you set a limit price, which is the price at which you want the trade to be executed. When the market reaches the stop price, your assistant places a limit order at the limit price. This way, you can ensure that you buy or sell at the price you want, even if the market moves quickly. It's a great tool for managing risk and maximizing profits.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers the stop-limit feature to its users. With this feature, traders can set a stop price and a limit price to automatically execute their trades. When the market reaches the stop price, BYDFi places a limit order at the limit price, ensuring that the trade is executed at the desired price. This feature is especially useful for traders who want to take advantage of price movements and protect their positions. BYDFi's stop-limit feature is easy to use and provides traders with more control over their trades.
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