The advantage of this order is that you can ensure an exact price for the order, but like any limit order, it may not execute if the price does not reach that level.
A stop-limit order requires setting two price points and setting a time frame when the stop-limit order can be executed. The two price points include the stop price, which is the start of the specified target price of the trade. The second price point is the limit price, which is outside the price target of the trade. Buy stop-limit orders must be placed above the market price at the time of the order, while sell stop-limit orders are placed below the market price.
The biggest benefit of a stop-limit order is that the trader has a high level of control over how they want an order to be filled. The biggest drawback when using a stop-limit order is that the trade is not guaranteed to be executed if the cryptocurrency does not reach the stop price during the specified time frame.
Stop Limit Order Video Tutorial (Purchasing Cryptocurrency)
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