How to use Stop Market : Stop Loss setting Follow
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The Stop Market will be achieved at the market price specified in advance.
How to use Stop Market : Stop Loss setting. Equivalent to Bitmax's reverse designated market price.
ex), If you have a 10 BTC buying(long) position at a price of 11800,
After setting the designated price for profit realization when it rises to 12000,
If you want to liquidate buying(long) position when the loss price falls to 11770.
1) Enter 11770 for the short selling price in the stop market.
2) Enter 10 BTC in Order Quantity
3) Reduce Only must be "checked"!!
The position was cleared by realizing profits by reaching the 12000 set at the limit price first.
Even if it falls again and comes to 11770, the new position will not be opened.
If the Reduce-Only check was turned off and the stop market was set, After the price rises to 12000, the price of liquidation, sell(short) position is newly open to 10 BTC when the price is reached 11770
*Caution : Up to 10 stop market orders are allowed according to the Binance Futures Trading Rules.
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COINFT Team.