What is a Stop Order?
Stop order is being used to keep your profit or prevent more loss when the market goes to the opposite side of your position.
What is Trigger Price?
Trigger price is the price which triggers the order waiting in the queue and sends it to the order book when the market price reaches that price. The order will not be sent to the order book untill the market price reaches the trigger price and the stop order waits in the queue.
Stop Market Orders
Stop market orders are the order types that allows you to set the trigger price and buy amount you are willing to pay or the sell amount you are willing to sell. When the market price reaches the trigger price, your order matches to the best bid or best ask order(s) according to your order position.
Stop Market Buy
When using Stop Market Buy order, you need to set the trigger price and the amount you would like to pay in TRY or USDT depending on the pair.
Be aware that you can not set the trigger price below the current market price.
For example when the best BTC ask price is 9260 USDT you'll not able to create stop market buy order with a price 9260 USDT and below. You can create a stop market buy order with a trigger price higher than 9260 USDT with the USDT amount you are willing to pay.
If you create a stop market buy order for 1000 USDT with trigger price 9265 USDT, when the market price reaches 9265 USDT your order will match immediately after being added to order book with the best ask price and you'll receive approximately 1000 USDT worth of Bitcoin. Note that, when using market orders, total amount may differ according to the market price.
Stop Market Sell
When using Stop Market Sell order, you need to set the trigger price and the cryptocurrency amount you want to sell.
Be aware that you can not set the trigger price above the current market price.
For example when the best BTC bid price is 9253 USDT you'll not able to create stop market sell order with a price 9253 USDT and above. You can create a stop market sell order with a trigger price lower than 9253 USDT with the BTC amount you want to sell.
If you create a stop market sell order for 0.1 BTC with trigger price 9250 USDT, when the market price reaches 9250 USDT your order will match immediately after being added to order book with the best bid price and you'll receive approximately 925.5 USDT. Note that, when using market orders, final amount may differ according to the market price.
Stop Limit Order
Stop limit orders are the order types that allows you to set the trigger price, exchange price and buy amount you are willing to pay or the sell amount you are willing to sell. When the market price reaches the trigger price, your order will be sent to the order book.
When using Stop Limit Sell order, you can set the trigger price, sell price and the cryptocurrency amount you want to sell.
Be aware that you can not set the trigger price above the current market price.
For example when the best BTC bid price is 9253 USDT you'll not able to create stop limit sell order with a price 9253 USDT and above. You can create a stop limit sell order with a trigger price lower than 9253 USDT with the BTC amount you want to sell (for ex. 0.1 BTC)
You can set any sell price (target price) above/below trigger price or equal to trigger price. But keep in mind that target price is the price which your order will be added to order book. Your order may not match if you set a higher sell price than the trigger price or sell price that is equal to trigger price if the market price goes below your trigger price.
Stop Limit Buy
When using Stop Limit Buy order, you can set the trigger price, buy price and the amount you would like to pay in TRY or USDT depending on the pair.
Be aware that you can not set the trigger price below the current market price.
For example when the best BTC ask price is 9260 USDT you'll not able to create stop limit buy order with a price 9260 USDT and below. You can create a stop limit buy order with a trigger price higher than 9260 USDT with the USDT amount you are willing to pay (for ex. 1000 USDT)
You can set any buy price (target price) above/below trigger price or equal to trigger price. But keep in mind that target price is the price which your order will be added to order book. Your order may not match if you set a lower buy price than the trigger price or buy price that is equal to trigger price if the market price goes above your trigger price.
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