Stop orders can be placed in the CoinMetro Exchange platform, and in the Margin platform. A stop price can be set for open margin positions.


Not sure what a stop order is? Take a look at our our educational article What is a stop order?.

In short, a stop order will trigger an order when an asset reaches a specific price. In the CoinMetro Exchange platform, you can use a stop order to sell an asset if it drops below a certain price, or buy an asset if it moves above a certain price.

An example of when a stop order could be useful is when chart analysis suggests a strong support level at a certain price. By placing a sell order at a price point below the support level, you can protect yourself against further loss, in case the support would break.

CoinMetro’s Demo Platform is always available if you would like to practice without risk.

To enable the stop order option in the Exchange platform, Advanced features must be enabled in the settings menu, accessible via the cogwheel in the upper right section of your screen.

The Order Form for Stop Orders Explained

To explain the order form, the first field to look at is the Stop Price. This is at which price your order will be triggered. The order that then is triggered is a market or limit order.

Stop order to execute a market order
The first way you can utilize a stop order is to execute a market order when your stop price is reached. To do this, all you need to do is input the Stop Price, enable "Immediate Order" and place your order.

With "Allow partial fill" unchecked, your order will be executed as a "Fill-or-Kill" market order. If your whole order can't be filled, it will be cancelled.

With "Allow partial fill" checked, your order will be executed as a "Immediate-or-Cancel". Any portion of your order that wasn't filled, will be cancelled.

Please note that market orders will generally be filled entirely at a fair market price on most of our available pairs. However, we advise you to always combine your Stop Price with a Max/Min (depends if you are buying or selling) price, to protect you in case there are no orders available near your stop price, which otherwise might cause your market order to be executed at a loss.

Stop order to execute a limit order

By setting a Max Price (when buying) or Min Price (when selling) together with your stop price, your stop order will execute a limit order once your stop price is reached.

With a limit price set, the "Immediate Order" option is not required. If you select it, it will execute as a market order up to your limit price.

Without "Immediate Order" selected, it will place a limit order into the book at the price, which will remain until filled or cancelled.

Stop price is at what price point your order will be executed.

[x] Immediate Order (Allow Partial Fill unchecked)

Executes a market order as a Fill-or-Kill. If the whole order can't be filled, it will be cancelled.

[x] Immediate Order (Allow Partial Fill checked)

Executes a market order as a Immediate-or-Cancel. Any unfilled portion of the order is cancelled.

Selling

[x] Min Price

Sells your asset at best available price, but not below the specified price. The order remains in the book until filled or cancelled.

[x] Min Price + Immediate Order (Allow Partial Fill unchecked)

Sells your asset at best available price, but not below the specified price. If the whole order cannot be filled, it will be cancelled.

[x] Min Price + Immediate Order (Allow Partial Fill checked)

Sells your asset at best available price, but not below the specified price. Any unfilled portion of the order is cancelled.

Buying

[x] Max Price

Buys the asset at best available price, but not above the specified price. The order remains in the book until filled or cancelled.

[x] Max Price + Immediate Order (Allow Partial Fill unchecked)

Buys the asset at best available price, but not above the specified price. If the whole order cannot be filled, it will be cancelled.

[x] Max Price + Immediate Order (Allow Partial Fill checked)

Buys the asset at best available price, but not above the specified price. Any unfilled portion of the order is cancelled.

CoinMetro’s Demo Platform is always available if you would like to practice without risk. Please note that the content of this article is not to be seen as trading or financial advice. It is educational only.

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