A stop-limit order is one of three types of orders that users can find on Tokocrypto. However, before the user goes deeper with this type, we recommend that you first learn about limit orders and the market.
In order to best understand what a stop-limit order is, we will first break it down into a stop price and a limit price. The stop price is the price that triggered a limit order, and the limit price is the price of the limit order that was triggered. This means, when the user's stop price is met, the user's limit order will be placed directly in the order book.
Although the stop and limit prices can be the same, this is not a requirement. In fact, it is safer for you to set the stop price (trigger price) slightly higher than the limit price (for sell orders) or slightly lower than the limit price (for buy orders). This increases the chance for a user's limit order to be fulfilled once the stop-limit is triggered.
How to use?
When the user has just bought 0.078 BNB at 401816 BIDR it is because the user believes that the price is close to the support limit and will rise from it.
When the user clicks the Sell BNB button, a confirmation window will appear. Make sure everything is correct then click the "Confirm" button to confirm.
User can scroll down to view and manage open user orders
When should the user use it?
Stop limit orders are very useful as a risk management tool, and users should use them to avoid significant losses. This tool is also very useful for creating sell orders to ensure that the user is taking profit when your target transaction is reached. The user can also use a stop-limit buy order to buy an asset after a resistance position has been crossed during an increase.