How to Use Stop Limit and Stop Market Orders in BYDFi Spot Trading (PC)

Stop Limit and Stop Market Orders are advanced order types in Spot trading that allow traders to automate buying or selling once the market reaches a specific price. They provide more flexibility compared to regular limit orders, helping traders manage risk and lock in profits more effectively.

How Stop Limit / Stop Market Orders Work

When placing a Stop Limit or Stop Market Order, you need to set two key prices:

• Trigger Price: The price that activates your order. Once the market reaches this level, the system will place your order automatically.
• Order Price (for Stop Limit): The price at which your limit order will be executed once the trigger price is reached.
• Market Order (for Stop Market): Once the trigger price is reached, the system will execute a market order at the best available price.

Example:

If you set a Trigger Price = 20,000 USDT and an Order Price = 19,800 USDT, once the market hits 20,000 USDT, the system will place a limit sell order at 19,800 USDT.

⚠️ Note:

• If the market reaches the Order Price before hitting the Trigger Price, the order will not execute.
• The Trigger Price must be reached before the order is activated.

How to Place a Stop Limit / Stop Market Order on BYDFi (PC)

1. Log in to your BYDFi account and go to the Spot Trading page.

2. On the right-hand side, select Stop Limit (or Stop Market).

3. Enter the required details: Trigger Price Order Price (for Stop Limit) or confirm as Market (for Stop Market) Quantity of the asset you want to trade

4. Click Buy or Sell to confirm your order.

5. After submission, you can view your active Stop Orders under the Open Orders section at the bottom of the page.

Key Benefits of Using Stop Orders

• Risk Management: Protect your funds by setting stop-loss levels.
• Profit Protection: Lock in profits by selling automatically once the market moves in your favor.
• Convenience: Automate trades without constantly monitoring the market.