Crypto Trading Tips 3: Stop Limit Order Explained (How to Place a Stop-limit Order)

Welcome to our tutorial on how to place a stop-limit order! This instructional video is crafted for crypto enthusiasts of all levels looking to deepen their understanding of strategic trade orders. Although we demonstrate using Coinbase Advanced, the essential steps and concepts are transferable to other sophisticated trading platforms like Binance and OKX. This makes our guide an invaluable resource for broadening your trading capabilities.

Timeline: 00:45 - What is a Stop-Limit Order? 02:02 - How to Place a Stop-Limit Order

🔹 What is a Stop-Limit Order? A stop-limit order in the cryptocurrency market is a two-part strategy. It combines the features of a stop order and a limit order. When you set a stop-limit order, you specify two prices: the stop price, which will convert your order into a limit order, and the limit price, which is the price at which your order will be executed.

Here’s how it functions:

• Stop Price: The price at which your limit order is activated.
• Limit Price: The specific price at which your order will be executed, following the activation of the stop price.

Stop-limit orders are useful for traders who want to have precise control over the price at which their order is filled, allowing them to manage risk, particularly in volatile markets.

🔹 Trade Safely: Ensure you are always operating on the authentic Coinbase platform and never disclose your login credentials to anyone to protect your investments.

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The content Every Bit Helps provides is not financial advice; these are simply our opinions. As such, this should not be treated as explicit financial, trading, or otherwise investment advice. We always recommend that you do your own research before making any investment. ... https://www.youtube.com/watch?v=WOcRzJWpjGw