What is Stop Market & Stop Limit Order?
What is a conditional order?
A conditional order (Stop Order) is a way to automatically execute an order when a certain price is reached. Unlike a market or limit order, it is only executed when a condition is met (Trigger).
Once the condition is met, the order is executed in one of two ways
• Stop Market: Immediate execution at market price when the condition is met
• Stop Limit: A limit order is triggered when the condition is met.
💡For example, if you want to enter a long position when the price of Bitcoin breaks 100,000 USDT, you can set 100,000 USDT as your Trigger.
Features
1. Automatic order execution when a condition is reached
The order will be executed only when a certain price is reached, which is beneficial for automated strategies.
For example, you can set a stop loss on a downtrend, buy on a breakout on an uptrend, etc.
2. Two methods
• Stop Market: Instant execution at market price when condition is reached → execution prioritization
• Stop Limit: Order is placed at a limit price when the condition is met → Execution price can be controlled, with a possibility of non-fill
3. Ideal for stop loss and breakout trading
Automatically enter/exit even in volatile markets
4. Can separate the condition price from the order price
Separate triggers and actual orders for more flexible strategies
How to open a Stop Market Order?
1. On [Futures] page, go to the order panel and select Stop Market as the order type.
2. Set how you want to hold the position by selecting Position Mode.
3. Set the Margin Mode to manage the risk of your position.
4. Set the leverage to use.
5. Enter the trigger price.
The trigger price is set above or below the price at which you want to enter the position to trigger a condition.
The trigger price can only be entered in USDT.
6. Enter the Order Quantity
You can specify the order quantity in one of the following units: coins, USDT, or contracts.
• Order by Qty
Enter the amount of cryptocurrency (e.g., 0.01 BTC).
• Order by Value
Enter the total value of your order in USDT (e.g., 1,000 USDT).
• Order by Contracts
Enter the quantity in contract units (e.g., 10 Contracts).
💡Depending on the input method you choose, the order quantity and margin are automatically calculated and displayed.
• Quantity/Value (Order Quantity) ◦ View the converted value of the order quantity you entered. ◦ Example: If you entered a quantity in USDT, see the value converted to BTC • Cost (Margin) ◦ Check the margin that will be used to enter the position. ⚠️Please note that the figures shown are estimates for reference only and may differ from the actual amount, so please be careful when trading.
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7. If necessary, set up Take Profit / Stop Loss (TP/SL) order to realize profit/loss at the specified price.
8. Select the direction of the position.
• Open Long
◦ Select Long when you expect the price to increase.
• Open Short
◦ Select Short to sell when you expect the price to fall.
How to open a Stop Limit Order?
1. On [Futures] page, go to the order panel and select Stop Limit as the order type.
2. Set how you want to hold the position by selecting Position Mode.
3. Set the Margin Mode to manage the risk of your position.
4. Set the leverage to use.
5. Enter the trigger price.
The trigger price is set above or below the price at which you want to enter the position to trigger a condition.
The trigger price can only be entered in USDT.
6. Enter the price at which you want the order to be filled (Order Price).
💡Tap the desired price in the order book and it will be applied directly to the order window for your convenience.
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7. Enter the Order Quantity
You can specify the order quantity in one of the following units: coins, USDT, or contracts.
• Order by Qty
Enter the amount of cryptocurrency (e.g., 0.01 BTC).
• Order by Value
Enter the total value of your order in USDT (e.g., 1,000 USDT).
• Order by Contracts
Enter the quantity in contract units (e.g., 10 Contracts).
💡Depending on the input method you choose, the order quantity and margin are automatically calculated and displayed.
• Quantity/Value (Order Quantity) ◦ View the converted value of the order quantity you entered. ◦ Example: If you entered a quantity in USDT, see the value converted to BTC • Cost (Margin) ◦ Check the margin that will be used to enter the position. ⚠️Please note that the figures shown are estimates for reference only and may differ from the actual amount, so please be careful when trading.
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8. If necessary, set up Take Profit / Stop Loss (TP/SL) order to realize profit/loss at the specified price.
9. Select the direction of the position.
• Open Long
◦ Select Long when you expect the price to increase.
• Open Short
◦ Select Short to sell when you expect the price to fall.