A Stop Order is a Market Buy or Sell Order that is triggered once a cryptocurrency hits an exact price. The disadvantage like any Market Order, is that you cannot fully guarantee the exact price of the executed order, but you can ensure that it is executed once the price trigger has been met.
How to Place a Stop Order on NDAX
- Login to https://ndax.io/
- Once you log in you will be redirected to your dashboard
- Click TRADE on the left-hand side of the screen
- On the trade page, click BUY (Green button) or SELL (Red Button) on the right side of the screen
- Click the small GREY ARROW in the upper left corner of the screen to pick the CRYPTOCURRENCY/CAD pair.
- Click on STOP
- Enter ORDER SIZE
- Enter STOP PRICE (the specified price when the order will turn into a market or limit order)
- Click PLACE BUY/SELL ORDER
To learn more, check out our blog:
Advanced Trading: Stop Order