Stop Limit Trading on Koinex
A stop-limit order is an order to place a regular buy or sell order (also known as a “limit order” ) when the market price (last traded price) reaches a specified price, known as the “stop price”. This can be helpful for protecting profits or minimizing losses.
The stop-limit order box has three inputs:
- Stop Price– think of this as the “trigger price.” If you place a stop-limit order, it will turn into a regular limit order when the market price reaches or passes theprice.
- Limit Price – this is the same thing as the “Price” on a regular buy or sell order. Once your stop-limit order has been triggered by the market price reaching your stop price, it turns into a buy or sell order for the price you enter in the limit price field.
- Amount– this is the same as the “Amount” on a regular buy or sell order. It indicates the amount of coins you wish to buy or sell should your stop-limit order be triggered.
On Koinex, users are allowed to set stop and limit prices of their choices without any restrictions.
- The order will only execute between the stop and the limit as long as matching bids or asks are available on the book. If the market price surpasses the limit price, the order may be partially filled.
- Once the stop price of a stop-limit order is reached, the limit order is automatically added to the book.
- If the market price does not reach the stop price, the order will not be triggered and will remain unfilled.
- If the stop is triggered and the limit order is placed, but the market price does not reach the limit price, the order will remain unfilled.
- If the market price is moving quickly enough and goes above the limit price, there may not be enough matching orders available between your stop and limit to fulfill the order.
Note: You will be only allowed to place a maximum of 4 stop-limit orders (buy and sell combined) at a time in a particular market.
* Source: Taken from koinex page