🚀 After the successful launch of Stop Loss and Take Profit/Limit Orders on DEX, we're excited to add Stop Limit today!
In this post, I'll explain Stop Limit, and in future posts, I'll cover Stop Loss and Take Profit/Limit Orders. All explanations focus on purchasing tokens on DEX, with a separate post for selling coming soon.
Let's say you hold 10 stETH, currently valued at 9.835407 WETH. You're hoping for a price increase, but you also want protection in case the price drops.
You can set a Stop Limit order with two conditions:
--Stop Price: I
f the market price drops below 8.5 WETH, you want to trigger a sell order.
--Limit Price:
If the price crashes to 5 WETH, you might not want to sell right away. Instead, you can set a limit price at 7 WETH, meaning you’ll only sell if the price stays above 7 WETH, giving you control over the minimum amount you’re willing to accept.
This way, you protect yourself from sudden market crashes but still maintain flexibility.
#StopLimit #DEX #CryptoTrading #DeFi #intentable #stETH #WETH #Blockchain
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