About the Stop-Limit Order
What is a Stop-Limit Order?
In a stop-limit order, users can preset stop price (trigger price), limit price and amount, and the system will automatically place an order when the market price reaches the stop price so that users can take profit or stop loss in time.
Stop-Limit Illustration
Supposing the current price of BTC is 19000 USDT(A), in a stop-limit order, you can set the trigger price or stop price as 20000 USDT(B) or 18000 USDT(C). When the BTC price goes up to 20000 USDT(B) or falls to 18000 USDT(C), the stop-limit order will take effect. The limit price can be slightly higher than the trigger price (B2 and C1), or slightly lower than the trigger price (B1 and C2). The limit order will only be filled when the preset price and amount are matched.
Stop-Limit User Guide
For example, if you buy 1 BTC at the price of 20000 USDT and you want to take the profit in time as the market is quite volatile, then you can place a stop-limit order. If you want to sell the BTC when your profit reaches 10%, you can place a stop-limit order with a stop price of 21000 USDT and a limit price of 22000 USDT. When the BTC price is 21000 USDT, a limit order of 22000 USDT will be triggered and placed. If the price keeps climbing to 22000 USDT or better, the limit order will be filled and you can maintain the profits. For a stop limit order to stop loss, you can also set a stop (trigger) price and a limit price to stop loss.
How to View the Stop-Limit Order History?
Click “Open Orders”-“Stop-Limit” to view the details of ongoing stop-limit orders. If the stop-limit order is filled or canceled, check the “Order History” to see the details.
