What is the difference between a stop order and a limit order on GDAX?

3 answers

• Dec 27, 2021 · 3 years ago
  A stop order is an order to buy or sell a cryptocurrency once the price reaches a specified level. It is used to limit losses or protect profits. On the other hand, a limit order is an order to buy or sell a cryptocurrency at a specific price or better. It allows traders to set a maximum purchase price or a minimum selling price. Both types of orders have their own advantages and should be used based on your trading strategy and goals.
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• Dec 27, 2021 · 3 years ago
  When it comes to stop orders and limit orders on GDAX, it's important to understand the key differences. A stop order is triggered when the market price reaches a certain level, and it then becomes a market order. This means that the order will be executed at the best available price. On the other hand, a limit order is executed at a specific price or better. This means that if the market price does not reach the specified price, the order will not be executed. It's important to consider these differences when deciding which type of order to use on GDAX.
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• Dec 27, 2021 · 3 years ago
  Stop orders and limit orders are two commonly used order types on GDAX. A stop order is used to limit potential losses or protect profits. It becomes a market order once the specified price is reached. On the other hand, a limit order is used to buy or sell a cryptocurrency at a specific price or better. It provides traders with more control over the execution price. Understanding the differences between these two order types is crucial for successful trading on GDAX or any other cryptocurrency exchange.
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