📉 Stop-Limit order for buying and selling cryptocurrencies on S-Trade

🚀 As part of the series of introductory posts with S-Trade orders, we are telling you about the Stop-Limit order. It consists of two prices: a stop and a limit.

🛑 The stop price indicates the value of the currency, when reached, an order to buy or sell the asset will be automatically placed. 

🛑 The limit price indicates the value of the currency at which the trader wants to buy or sell the asset. This order is automatically placed when the value of the asset reaches the stop price. 

❗️ For example, if a trader wants to buy Ethereum at $1,500, he can set a Stop-Limit order with a stop price of $1,510 and a limit price of $1,500. If the price reaches the stop level of $1,510, the order will be automatically placed and the cryptocurrency will be bought for $1,500 if the set price is reached. 

💱 A Stop-Limit order allows traders to protect themselves from losses and ensure profits if a certain price level is reached. But it is important to remember that the cryptocurrency market is volatile, so using an order does not guarantee complete protection from possible losses.

⏺ Watch the video tutorial to learn more about buying and selling cryptocurrencies at S-Trade.
https://t.me/STrade_Announcements/49

Updated on: 26/04/2023