than the current price. Therefore, they will set a limit orderthe price that the asset is currently trading at, which will be triggered only if price reaches that level.allows traders to set a limit to the price they are willing to pay, or how much they are willing to accept for their asset. The ability to set these limits gives traders additional control over the price they pay for the asset.
For example, Jean wants to protect himself from losses; if the price of Bitcoin falls below $22,000, he wants his Bitcoin to be sold. For this, he uses a stop market order, with his stop at $22,000. Another kind of stop order is the stop-limit, which sends a limit order into the order book as soon as the stop is triggered. Traders again can pre-set their stop level, but they can also set the price at which they want their limit order to be sent into the books.Stop orders allow traders to protect themselves from losses and limit their risks. By setting a stop price, traders can automatically trigger an order to sell their assets if the crypto asset price falls to a certain level.
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Fonte: BTCTN - 🏆 531. / 51 Leggi di più »