How does selling with a stop limit order on Binance differ from selling with a limit order?

3 answers

• Dec 26, 2021 · 3 years ago
  When selling with a stop limit order on Binance, you set a stop price and a limit price. The stop price triggers the order to become active, while the limit price determines the minimum price at which you are willing to sell. This type of order allows you to protect your profits or limit your losses by automatically selling your assets when the market reaches a certain price level. It provides more control over the execution price compared to a regular limit order. However, there is a risk that the market may not reach your stop price, resulting in the order not being executed.
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• Dec 26, 2021 · 3 years ago
  Selling with a limit order on Binance means that you set a specific price at which you want to sell your assets. The order will only be executed if the market price reaches or exceeds your specified price. This type of order allows you to set a target price and wait for the market to reach it. It can be useful when you believe the market will move in your favor and you want to sell at a specific price. However, there is a risk that the market may not reach your specified price, and your order may remain unfilled.
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• Dec 26, 2021 · 3 years ago
  From BYDFi's perspective, selling with a stop limit order on Binance provides traders with more flexibility and control over their selling strategy. It allows them to set both a stop price and a limit price, ensuring that their assets are sold at a favorable price. However, it's important to note that the execution of a stop limit order depends on the market reaching the stop price, which may not always happen. Traders should carefully consider their risk tolerance and market conditions before using this type of order.
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