We have enabled advanced trading orders on Atani Exchange – get ready to take your trading strategies to the next level!
You will now be able to trade using stop limit and take profit limit orders to give you greater control and flexibility in your trading, helping you maximize your profits and minimize your losses.
In this guide we will explain what the stop limit and take profit limit orders are, what they are used for and how to use them in Atani.
STOP LIMIT ORDERS
Stop limit orders are a combination of a limit order and a trigger, called a stop (hence the name). They are a type of conditional order that is automatically executed in the market when a certain trigger price (stop) is reached.
In a stop limit order, the stop price is the trigger price and the limit price is the price at which your order will be generated and executed.
Now, to better understand how stop limit orders work, let’s look at a buy example.
Buy Stop limit order
Let’s imagine that Bitcoin (BTC) is currently trading at $26,000, and you want to buy when it starts to enter an uptrend.
However, you don’t want to pay too much for BTC in case it quickly starts to rise in value, so you need to put a “limit” on the price you will pay.
Let’s say your technical analysis indicates that an uptrend could get underway if the market rises above $28,000.
You decide to use a buy stop-limit order to open a position in case this upside occurs. So, you set your stop price at $28,000 and your limit price at $28,500. That means that when Bitcoin reaches $28,000, you create a limit order to buy BTC at $28,500. Your order can be filled at a price of $28,500 or less.
Keep in mind that $28,500 is your limit price, so if the market quickly rises above that price, your order may not be filled at all.
Below is a video on how to place stop limit orders within the Atani Exchange.
TAKE PROFIT LIMIT ORDERS
This type of order is a combination of a take profit price and a limit order.
The price stipulated in the take profit part is the equivalent of the trigger, i.e. it is the price at which the order will be initiated. On the other hand, the limit price is the price at which you want your order to be executed.
Imagine that you have bought Bitcoin at $26,000 and you want to sell it once it exceeds $28,000 and as you are not very sure that it will continue to rise, you want to secure the shot and set your order to be executed from $28,100.
Therefore, the take profit price should be $28,000 being the trigger, and the limit price $28,100.
Below is a quick video so you can see how to place this type of order in Atani Exchange.
More to come
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