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Support CenterOperation guideHow to Use a Stop Limit Order
How to Use a Stop Limit Order
2022/03/04 20:23:17

Please check our tutorial video to help you solve your problems or understand more regarding related topics.


If you would like to know more details, please read the whole article below.

 

Here is our tutorial video: https://www.youtube.com/watch?v=WQp8JGQMwSM



1. Log in FAMEEX website and click [Spot] at the top of list and scroll down to [Trade].




2. Enter spot trading and choose your trading pair. Select [Stop Limit] as your trade setting.


3. A Stop Limit order is a conditional order over a set price range, executed at a specified price after a given trigger price has been reached. Once the trigger price is reached, it will buy or sell at the limit price or at a better price than the price you set. Once the last price matches your trigger price, the system will place your order in the market. This order will try to secure your profit and reduce your loss.

 



4. Glossary


(1) Stop Price: When the last price matches the set-up stop price, the stop-limit order is triggered to open your order on the system.

(2) Price: After this order is triggered, your order is placed in the market at this price.

(3) Amount: your preferred amount after being triggered.

 

5. In order to hedge your profit and prevent you from the error operation. FAMEEX setup below limit rules.


(1) Buy in: The price can’t be 110% higher than the stop price.

(2) Sell out: The price can’t be 90% lower than the stop price.

 

6. Example


(1) Stop loss scenario: 


For example as BTC/USDT, if you open the order at 5764.05 USDT to buy 10 BTC, the support level suggests to be around 5615.45 USDT. If the price turns down and breaks below support level, it implies the next leg of downtrend. If you want to stop your loss, you can set up the price at 5591.13 USDT to sell 10 BTC as your stop limit order.

 

Order Parameters:

Mode: Sell out

Stop Price: 5615.45 USDT

Price: 5591.13 USDT ( Your filled price is based on the last trade price in the market.)

Amount: 10 BTC

 

 


(2) Take profit scenario:


For example as BTC/USDT, if you open the order at 5772.31 USDT, the index indicates that 5865.45 USDT as resistance. If the price pushes above the resistance, the bullish momentum may be up-move. You can set up the stop price at 5915.15 USDT to buy 20 BTC to make more profit.

 

Order Parameters:

Mode: Buy in

Stop Price: 5865.45 USDT

Price: 5915.15 USDT ( Your filled price is based on the last trade price in the market.)

Amount: 20 BTC




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