How to use Stop-Limit Function？
A stop-limit order will be executed at a specified (or potentially better) price, after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.
- Stop price:When the current price reaches the given stop price, the stop-limit order is executed to buy or sell at the limit price or better.
- Limit price: The price that the stop-limit order is executed at.
- amount: The quantity to buy or sell in the stop-limit order.
The last traded price of ETH is 0.062340 BTC, and the resistance is around 0.062345 BTC. If you think that the price will go higher after the price reaches the resistance, you can put a Stop-Limit order to automatically buy more ETH at the price of 0.062350 BTC. This way you won’t have to continuously watch market movements waiting for the price to reach your target price.
Approach: Select “Stop-Limit” order, then specify the stop price to be 0.062345 and the limit price to be 0.062350, with quantity as 2. Then click the button “Buy ETH” to submit the order.