How does a stop order on Coinbase Pro work?

3 answers

• Dec 28, 2021 · 3 years ago
  A stop order on Coinbase Pro is a type of order that is triggered when the price of a cryptocurrency reaches a specified level. It is commonly used to limit losses or protect profits. When you place a stop order, you set a stop price, which is the price at which the order will be triggered. Once the stop price is reached, the stop order becomes a market order and is executed at the best available price on the market. It's important to note that stop orders do not guarantee execution at the stop price, especially in volatile markets. The actual execution price may be different from the stop price.
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• Dec 28, 2021 · 3 years ago
  When you place a stop order on Coinbase Pro, you have the option to set a stop price and a limit price. The stop price is the price at which the order will be triggered, and the limit price is the maximum price at which you are willing to buy or sell the cryptocurrency. If the stop price is reached, the order becomes a market order and is executed at the best available price. However, if the limit price is reached before the stop price, the order will not be executed. This allows you to set a maximum price at which you are willing to buy or sell, even if the stop price is triggered.
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• Dec 28, 2021 · 3 years ago
  BYDFi is a digital currency exchange that also offers stop orders on its platform. Similar to Coinbase Pro, BYDFi allows users to set a stop price and a limit price for their orders. When the stop price is reached, the order becomes a market order and is executed at the best available price. BYDFi also provides advanced order types, such as trailing stop orders, which automatically adjust the stop price as the market price moves in your favor. These advanced order types can be useful for traders looking to automate their trading strategies and protect their profits.
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