What is the difference between trigger price and limit price in the context of cryptocurrency trading?

1 answers

• MeghanasrinivasNov 24, 2021 · 4 years ago
  Trigger price and limit price are two terms commonly used in cryptocurrency trading. The trigger price is the price level at which an order is triggered, while the limit price is the specific price at which the order is executed. When the trigger price is reached, it activates the limit order, which is then executed at the limit price or better. This allows traders to set specific conditions for their trades and automate their trading strategies. For example, a trader may set a trigger price slightly above the current market price and a limit price slightly below, in order to execute a buy order when the price starts to rise. By understanding the difference between trigger price and limit price, traders can effectively manage their trades and take advantage of market opportunities.
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