Stop Profit: When the market spot price is higher than the trigger price you set, the system will sell a portion of cryptocurrency to maintain and maximize the level of profitability.
Stop Loss: When the market spot price is lower than the trigger price you set; the system will sell a portion of cryptocurrency to avoid a greater loss. It is intended to minimize the loss when your investment strategy is wrong.
In conclusion, Stop Profit/Loss will automatically execute users’ orders according to the preset parameters.
When Stop Profit/Loss is triggered, the system will only execute your available cryptocurrency. Stop Profit/Loss will fail when the available cryptocurrency is less than the minimum required
For example:
1. Take BTC/USDT as an example. The BTC spot price is 5000 USDT. You suspect it can reach 4000 USDT when falling to 4800 USDT. To minimize the loss, you can set the trigger price at 4800 USDT and sell your BTC at 4750 USDT.
2. Take BTC/USDT as an example. The BTC spot price is 5000 USDT. You expect it to reach 6000 USDT when reaching 5100 USDT. To maximize the profit, you can set the trigger price at 5100 USDT and sell your BTC at 5150 USDT.
3. Take BTC/USDT as an example. The BTC spot price is 5000 USDT. You expect it to bounce back to 5300 USDT when falling to 4800 USDT. You then place a limit order to buy 1 BTC at 4800 USDT and set a Stop Profit order at 5300 USDT.
When the price reaches 4800 USDT you succeed in buying 1 BTC. The Stop Profit will also be triggered to sell the 1 BTC when the price rises to 5300 USDT.
You cannot buy 1 BTC at 4800 USDT when the spot price only falls to 4900 USDT. If there is no BTC balance, then the Stop Profit/Loss order will fail even when the spot price reaches 5300 USDT.
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