Are market if touched orders commonly used by professional cryptocurrency traders?

1 answers

• Mar 20, 2022 · 3 years ago
  As a professional cryptocurrency trader, I can confirm that market if touched orders are indeed commonly used in the industry. These orders provide traders with the flexibility to enter or exit a position at a specific price or better if the market price touches that level. This is particularly useful in the highly volatile cryptocurrency market, where prices can fluctuate rapidly. By setting market if touched orders, traders can automate their trading strategy and ensure they don't miss out on potential opportunities. It also allows them to set predefined risk levels and take profits without constantly monitoring the market. Overall, market if touched orders are a valuable tool for professional cryptocurrency traders to effectively manage their positions and optimize their trading strategies.
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