What is a stop sell order on GDAX?

1 answers

• Dec 28, 2021 · 3 years ago
  A stop sell order on GDAX is a feature that allows users to set a specific price at which they want to sell a cryptocurrency. When the market price of the cryptocurrency reaches or falls below the set price, the stop sell order is triggered and the cryptocurrency is sold automatically. This can be useful for traders who want to limit their losses or secure profits. For example, if you have bought Litecoin at $200 and you want to make sure you don't lose more than 10% of your investment, you can set a stop sell order at $180. If the price of Litecoin drops to $180 or below, your stop sell order will be activated and your Litecoin will be sold automatically. It's important to note that stop sell orders are not guaranteed to be executed at the exact price set, especially during periods of high market volatility.
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