What is The Stop-Limit Function and How to Use It
The stop-limit function on Fokawa helps traders manage risks and lock in profits. Here’s how to use it:
Understanding Stop-Limit Orders:Stop Price: The price that triggers the limit order.Limit Price: The price at which the order is executed.
Stop Price: The price that triggers the limit order.
Limit Price: The price at which the order is executed.
Setting a Stop-Limit Order:Log In: Access your Fokawa account.Go to Trading Interface: Navigate to the spot trading section.Select Stop-Limit: Choose the stop-limit order type.Enter Stop and
Limit Prices: Input the stop price and the limit price.Specify Amount: Enter the amount of the asset to buy or sell.Confirm Order: Review and confirm the order.
Example:If you own BTC and the current price is $50,000, you might set a stop price at $48,000 and a limit price at $47,500. If BTC’s price drops to $48,000, a sell order is placed at $47,500.
Understanding Stop-Limit Orders:Stop Price: The price that triggers the limit order.Limit Price: The price at which the order is executed.
Stop Price: The price that triggers the limit order.
Limit Price: The price at which the order is executed.
Setting a Stop-Limit Order:Log In: Access your Fokawa account.Go to Trading Interface: Navigate to the spot trading section.Select Stop-Limit: Choose the stop-limit order type.Enter Stop and
Limit Prices: Input the stop price and the limit price.Specify Amount: Enter the amount of the asset to buy or sell.Confirm Order: Review and confirm the order.
Example:If you own BTC and the current price is $50,000, you might set a stop price at $48,000 and a limit price at $47,500. If BTC’s price drops to $48,000, a sell order is placed at $47,500.
Updated on: 19/06/2024
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