What is Stop-market Order?
Similar to a Stop Limit Order, a Stop Market Order uses a stop price to trigger the trade. However, when the stop price is reached, it triggers a market order instead.
Buy Example:
If the current market price on BTC is 20,000$, You can set the stop price above the current price such as 22,000$ to place your Stop-Market order. If you set the stop price below the current price such as 18,000$ your Stop-Market order will be turn into position immediately and your Entry price will be the Market price.
Sell Example:
If the current market price on BTC is 20,000$, You can set the stop price below the current price such as 18,000$ to place your Stop-Market order. If you set the stop price above the current price such as 22,000$ your Stop-Market order will be turn into position immediately and your Entry price will be the Market price.
How to place a Stop-Market Order at Coinlocally?
- [Login] to your account and go to [Futures Trading] page.
- Choose your asset like BTCUSDT pair.
- Choose [Stop-Market] order type.
- Set your [Stop] price and enter the [Size] you wish to open a position.
Note:
You can enter your amount and see your assets value at BTC units. Also, you can click on the [BTC] button to switch your unit to USDT for observing your assets value in USDT. Also, you can drag the bar to calculating your Size or total by system automatically.
- Now, you can click [Buy/Long] or [Sell/Short] to place your orders.
- Your Stop-Market Order will be placed in order book and you can see your order at the end of Futures page in [Open order] tab. When your orders triggered and become position, you are able to see your positions at the end of Futures page in [Positions] tab. And when your positions hit your targets, you can see the details and information about your positions in [Order History] or [Trade History] tab.
- Click here to see more information: https://futuresdoc.gitbook.io/help-center/perpetual/functions/conditional-order