A stop-market order uses a Trigger Price as a trigger. When the trigger price is reached, it triggers a market order. Make sure you learn about market orders before using stop-market orders.
Stop-market order on CoinPanel is a feature that is not available on the spot exchanges.
Stop-market orders do not block the coin balance, therefore you can use them to create as many orders as you like. These orders will simply trigger a market order when the price is reached.
When should you use it?
Stop-market has many use cases:
- for stop-loss and take-profit orders in a Full Trade
- market buying on a breakout
- setting buy orders at lower prices to catch the dips without blocking your balance with a limit order
How does CoinPanel handle stop-market orders?
When the trigger price is reached, it triggers a market order on the exchange.