VELIC supports Stop-Limit Order Function on the VELIC exchange platform
VELIC supports Stop-Limit Orders from now on! Through the latest version updates and better trading convenience, VELIC just launched the new function calls Stop-Limit Order.
VELIC’s Stop-Limit Order is a pre-set order that users can buy or sell when the current price reaches the price above or below the range of stop price you have set.
Choose the pair you want to place the VELIC stop limit order for. For this guide, I chose ICX/BTC
Case A. Buy Stop Limit: Expect the price go over a certain price.
When ICX’s current price is 0.00002578 BTC, you can create a buy order using stop-limit.
Set a stop-price at 0.00002600 BTC higher than the current price. If the stop-price condition is satisfied, set the limit the price and amount. When you create a stop-limit order, a pop-up appears. If the current price rises above 0.00002600 BTC, an actual order is placed.
Case B. Sell Stop Limit: Expect the price go down a certain price
When ICX’s current price is 0.00002578 BTC, you can create a buy order using stop-limit.
Set a stop-price at 0.00002500 BTC lower than the current price. If the stop-price condition is satisfied, set the limit price or amount. When you create a stop-limit order, a pop-up appears. If the current price falls below 0.00002500 BTC, an actual order is placed.
Terminology
-Stop price: The price that triggers the limit order you have placed.
-Limit price: The price of the triggered limit order.
-Amount: The amount reflected in the order book when stop-limit order has been executed.
Thank you all for your continued support!
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Published at Fri, 02 Aug 2019 06:31:29 +0000
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