What is the stop price feature on GDAX and how does it work?

3 answers

• Dec 29, 2021 · 3 years ago
  The stop price feature on GDAX is a tool that allows traders to set a specific price at which they want to buy or sell a cryptocurrency. When the market price reaches the stop price, a market order is triggered and executed. This feature is commonly used for setting stop-loss orders to limit potential losses or for setting take-profit orders to secure profits. To use the stop price feature on GDAX, follow these steps: 1. Log in to your GDAX account and navigate to the trading page. 2. Select the cryptocurrency pair you want to trade. 3. Click on the 'Stop' tab. 4. Enter the stop price at which you want the order to be triggered. 5. Choose the order type (buy or sell). 6. Set the order size (amount of cryptocurrency you want to buy or sell). 7. Review the order details and click on the 'Place Order' button to submit the order. Please note that the stop price feature is not available for all cryptocurrency pairs on GDAX, so make sure to check if it is supported for the pair you want to trade.
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• Dec 29, 2021 · 3 years ago
  The stop price feature on GDAX is a powerful tool for managing risk and maximizing profits in cryptocurrency trading. It allows traders to automatically execute buy or sell orders when the market price reaches a specific price level. This feature is particularly useful for setting stop-loss orders to limit potential losses and take-profit orders to secure profits. To use the stop price feature on GDAX, follow these steps: 1. Log in to your GDAX account and navigate to the trading page. 2. Select the cryptocurrency pair you want to trade. 3. Click on the 'Stop' tab. 4. Enter the stop price at which you want the order to be triggered. 5. Choose the order type (buy or sell). 6. Set the order size (amount of cryptocurrency you want to buy or sell). 7. Review the order details and click on the 'Place Order' button to submit the order. It's important to note that the stop price feature is not a guaranteed execution price. Once the stop price is reached, the order is converted into a market order and executed at the best available price. This means that the actual execution price may differ from the stop price, especially in volatile market conditions. Therefore, it's essential to carefully consider the potential risks and set appropriate stop prices to protect your investments.
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• Dec 29, 2021 · 3 years ago
  The stop price feature on GDAX is a useful tool for traders to automate their buy or sell orders based on specific price levels. It allows you to set a stop price at which your order will be triggered and executed as a market order. This feature is commonly used for setting stop-loss orders to limit potential losses or for setting take-profit orders to secure profits. To use the stop price feature on GDAX, follow these steps: 1. Log in to your GDAX account and go to the trading page. 2. Choose the cryptocurrency pair you want to trade. 3. Click on the 'Stop' tab. 4. Enter the stop price at which you want the order to be triggered. 5. Select the order type (buy or sell). 6. Specify the order size (amount of cryptocurrency you want to buy or sell). 7. Review the order details and click on the 'Place Order' button to submit the order. Please note that the stop price feature may not be available for all cryptocurrency pairs on GDAX. Additionally, it's important to consider market volatility and liquidity when setting your stop price to ensure optimal execution.
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