A stop order is set to buy or sell a cryptocurrency at the market price once it has hit a specified stop price. A take profit limit order is a predefined order that automatically sells a cryptocurrency position when its price reaches a specified level or better. A stop-limit order combines a stop order and a limit order, allowing traders to specify both a stop price and a limit price for buying or selling. Example: You own 1 Bitcoin, and you want to sell it if the price drops to $45,000. It’s used to lock in profits by ensuring that the asset is sold when the market moves favorably. Example: You want to buy 1 Bitcoin when the price hits $60,000 but not above $60,100.

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Example: You own 1 Bitcoin at $50,000 and want to set a take profit limit order at $60,000. A stop-market order is similar to a stop order, but when triggered, it becomes a market order and is executed at the best available market price. Example: You want to sell 1 Bitcoin if the price drops to $45,000, and you’re willing to accept the current market price when the stop price is reached. When the market price reaches or exceeds $60,000, your Bitcoin will be sold at that price or higher.

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A take profit market order is similar to a take profit limit order but is executed at the best available market price once the specified level is reached. Example: You own 1 Bitcoin at $50,000 and want to set a take profit market order at $60,000. It prioritizes execution speed over price precision. When the market price reaches or exceeds $60,000, your Bitcoin will be sold immediately at the current market price.

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A trailing stop order is designed to protect profits. If the market price rises to $60,000, the stop price becomes $57,000 (5% below the peak). Limit losses by dynamically adjusting the stop price as the market price moves in the trader’s favor. Example: You buy 1 Bitcoin at $50,000 and set a trailing stop order with a 5% trailing percentage. What’s time in force for crypto orders? If the market reverses, the stop price remains fixed. Time in force for crypto orders refers to the duration or conditions under which a cryptocurrency order remains active. If the market then declines and reaches $57,000, your Bitcoin is sold.

What are the Different Crypto Order Types? Example: You want to buy 1 Bitcoin right now at the current market price. What are the common crypto order types? Learn about the different crypto order types and the pros and cons of each. There are many different crypto order types to help you buy, sell, and trade crypto. A market order is an instruction by a trader to buy or sell a cryptocurrency at the best available price in the crypto market, ensuring instant execution. A crypto limit order is an instruction to buy or sell a cryptocurrency only at a specified price or better. Example: You want to buy 1 Bitcoin at $50,000 or lower.