What are the advantages of using a limit order instead of a stop limit order when trading cryptocurrencies?

2 answers

• Mar 22, 2022 · 3 years ago
  When it comes to trading cryptocurrencies, using a limit order instead of a stop limit order can offer some distinct advantages. One of the main benefits is that it allows you to set a specific price at which you want to buy or sell a cryptocurrency. This means you can avoid getting caught up in the frenzy of market fluctuations and make more informed decisions. Additionally, using a limit order can help you take advantage of price movements. By setting a buy limit order below the current market price or a sell limit order above the market price, you can potentially get a better entry or exit point. Overall, using a limit order gives you more control over your trades and can lead to better results.
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• Mar 22, 2022 · 3 years ago
  When it comes to trading cryptocurrencies, BYDFi recommends using a limit order instead of a stop limit order. The main advantage of using a limit order is that it allows you to set a specific price at which you want to buy or sell a cryptocurrency. This gives you more control over your trades and helps you avoid unexpected price fluctuations. Additionally, limit orders can help you take advantage of market volatility. By setting a buy limit order below the current market price or a sell limit order above the market price, you can potentially get a better entry or exit point. Overall, using a limit order can improve your trading experience and increase your chances of making profitable trades.
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