A Stop Limit order allows you to set an order, which will transform into a Limit. When the price surpasses the predefined Stop Price point, the Stop Limit order becomes a Limit order.
How to place a Stop Limit Order
1. Open the Trade page
The Trade page is divided into five main sections: New Order, Order Book, Trade History, Chart, and Order Details.
Want to know more information about Trade page opportunities? Please follow the link to the Trade page overview.
2. Choose a Main or sub-account for trade:
Account selector - allows you to choose on behalf of which account you want to create a new order.
By default, the Main Account is selected in the accounts list. You can also use the search bar to find the account you need in case there are more than 5 accounts.
3. Choose pair for trading
Trading pair selector - allows you to choose the pair for trading by either scrolling or using the search bar.
By default, either BTC-USD or the last selected pair is automatically selected.
For your ease of use, Buying power overview - shows the available trading balance, for the selected account, for the selected trading pair.
4. Choose to Buy or Sell
In this step, you should choose the desirable order side: either BUY or SELL.
5. Choose the order type
The market order is chosen by default. In this regard, you need to select the “Stop Limit” order type to advance to further Stop Limit order configuration and placement.
Keep in mind, that by its’ nature Limit order (which will be set after the price surpasses the predefined Stop Price point) gives a trader more control over the price but does not guarantee the order execution. The limit price might not be reached at all.
6. Choose the Stop price
In the case of the Stop Limit order type, the Stop price means the price threshold, after which a Limit order will be placed at the specified limit price.
6. Choose the amount of currency
Please pay attention, that min and max order amounts are different for each trading pair. More information concerning limitations as to each trading pair can be found in the Trading Conditions section on the Settings page.
Also, note that for Limit orders amount can be indicated only in the first currency of the trading pair (e.g. amount in BTC for BTC-USD trading pair, but NOT in USD).
7. Choose the Limit price
Limit price - is a price specified by the Client for the execution of a Limit order (which will be set after the price reaches the Stop price specified).
For the Stop Limit Buy order limit price represents the highest price Client will accept for the order to be executed, while for the Stop Limit Sell order - the limit price represents the lowest price Client will accept for the order to be executed.
The limit price is always indicated in the second currency of the trading pair (e.g. price for the BTC-USD trading pair is always indicated in USD currency).
After the amount and limit price are set, you will see additional information before placing an order:
Total - indicates the amount to be executed as a result of filling the order with a specified amount under the limit price.
Fee - indicates the amount of fee to be paid after filling the order with a specified amount under the limit price.
9. Click place BUY/SELL order
Place the Order button. Once all the parameters are set up, you can create a new order by clicking on the Place Buy Order (Place Sell Order).
10. Check order details and confirm order placement
After clicking on the Place Order button you’ll see a pop-up window with a brief overview of the order. After checking the order details you should click on CONFIRM button to eventually place such a new order.
11. Successful pop-up window
In case new order has been placed, you’ll see a successful pop-up window. Just press the GO TO TRADE button to proceed!
In the meantime, in the right top corner, you’ll see an order bubble pop-up that will inform you about the current order status.
Please pay attention, that the current order status and other order details can be found in the Orders details section on the Trade page.