What is Stop-limit order for Margin Trading
"Stop-Limit" order is a kind of pre-set order that users are able to set stop price, limit price and buy/sell amount in advance. When the latest trading price reaches the stop price, the system will automatically place the order at the limit price to the order book.
Stop price: Upon the latest market price reaching the stop price, the pre-set order will be placed in the order book at the Limit price with the pre-set amount.
Limit price: The price to buy/sell a cryptocurrency
Amount: The order's buy/sell amount
Note: Under automatic mode, if there's large market fluctuation, the available loan will be change. This may lead to the failure of the stop-limit order.
The market price of EOS is now higher than 2.5 USDT. A user believes the 2.5 USDT price mark is an important support point, so he think if the price of EOS falls below the price, he can make loan to buy long of EOS. In this case, the user can leverage the stop-limit order and set the stop price, limit price and buying amount in advance. With the function, the users do not need to keep an eye on the market in 24 hours.
Note: If the price experience great volatility, the stop-limit order may fail to be executed.
How to place stop-limit order?
Step 1: Click "Margin" - Select "Stop-limit". Then, select "Normal" mode or "Automatic" mode.
Step 2: Set the stop price at 2.7 USDT, limit price 2.5 USDT and the buying amount of 35. Then, click "Buy" . After placing the stop-limit order, the record can be viewed under the "Stop-limit" menu.
Step 3: Upon the latest market price reaching the stop price, the order can be viewed under the "Limit" menu.