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OKex Exchange to Introduce Stop-Limit Orders

One of the top cryptocurrency exchanges, OKex announced to introduce stop-limit orders. This new offering that enables traders to achieve trading targets and optimize their exit strategies.

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Previously on Aug 22, OKEx launched algo orders on perpetual swap market. Now the orders are available in both the spot and derivatives markets. 

Basically, A stop-limit order is a bundle of stop order and limit order that is commonly used in the stock and forex market. A stop-limit order allows one to predetermine at what price a buy/sell order can be executed (stop order) and the max/min price one wants to buy/sell (limit order).

The platform also pointed out a few benefits which stop-limit order could bring to users. Firstly, It is automated and saves your time from monitoring and executes your orders correctly. Also, by using stop-limit, you can rest assured that your trading strategy is carried out without interference. 

Even though the stop-limit order can minimize human interference during the trade, the entry and exit strategy, such as the target price, must be placed at a logical level. You should make sure yourself well-informed and fully aware of price signals of the current market before placing any orders.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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