What is Stop Order?
A stop order allows you to set a stop price, order price, and the amount in advance. Once the stop price is reached, the preset order will be placed in the market. Currently, Stop-Limit orders and stop-market orders are both supported on CoinEx.
Terms
1. Stop price: It's the trigger price of a stop order. Once the stop price is reached, the order will be automatically placed in the market according to the preset values.
2. Limit price: It's the price at which a stop-limit order will be executed after being triggered.
3. Amount: It's the amount to be executed when the order is triggered.
4. Always Valid (AL): The order will remain valid unless it's been canceled by you or fully executed in the market.
5. Immediate or Cancel (IOC): Any unfilled part will be canceled immediately as soon as the order is submitted. If there is no transaction at the time of submission, all will be canceled; If the order is partially executed at the time of submission, the unfilled part will be canceled immediately.
6. Fill or Kill (FOK): If the order cannot be fully executed in the market immediately at once, it will be canceled immediately.
7. Hidden Orders: The order will not appear in the order book after it's submitted.
How do stop orders work?
Stop-limit orders: You can preset the stop price, limit price, and amount. When the market price reaches the stop price, a limit order will be posted at the specified price and amount.
Stop-market orders: You can preset the stop price and amount. When the market price reaches the stop price, a market order will be posted at the specified amount. (The auction-style closeout strategy will be applied to execute your order.)
How to place a stop order?
1. Set stop-limit buy order
Assuming you want to set a stop-limit order to buy BCH in the BCH/USDT market:
(1) Select [Stop-Limit]
(2) Set the stop price at 200 USDT
(3) Set the limit price at 250 USDT
(4) Set the amount
(5) Click [Buy BCH] to submit the order
The order will not be sent to the market immediately after it's submitted. ONLY when the latest market price reaches the stop price (200 USDT), will the order be triggered and 1 BCH will be bought at the price of 250 USDT.
2. Set stop-market sell order
Assuming you want to set a stop-market order to sell BCH in the BCH/USDT market:
(1) Select [Stop-Market]
(2) Set the stop price at 200 USDT
(3) Set the amount
(4) Click [Sell BCH] to submit the order
The order will not be sent to the market immediately after it's submitted. ONLY when the latest market price reaches the stop price (200 USDT), will the order be triggered and 1 BCH will be sold at the price of 250 USDT.
FAQs
Q1: Will my assets be frozen after I submitted the stop order?
A1: No, stop orders will not freeze your assets. Please make sure you have enough balance after submitting a stop order. If your balance is insufficient when the market price reaches the stop price, your order will not be placed in the market.
Q2: The market price has reached the stop price, why my stop order failed to be executed?
A2: Your stop order may not be triggered or executed due to severe market fluctuations, insufficient funds, upgrade, and other reasons.
In the scenario of insufficient balance:
(1) Stop buy order: If you do not have sufficient balance to buy the cryptos when the market price reaches the stop price, your order will not be placed in the market.
(2) Stop sell order: If you do not have enough cryptos to be sold when the market price reaches the stop price, your order will not be placed in the market.
Q3: Will my stop order be successfully executed after being triggered?
A3: Whether or not your stop order will be successful depends on the actual market condition, so it's possible that your order will not be executed after being triggered.
Related Articles: