A stop-Market order will be executed at a specified (or potentially better) price, after a given Market price has been reached. Once the Market price is reached, the stop-Market order becomes order to buy or sell at the market price.
Explanation of Terms:
Stop price: When the current price reaches the given stop price, the stop-Market order is executed to buy or sell at the Market price.
Market price: The price (or potentially better) that the stop-Market order is executed at.
Quantity: The quantity to buy or sell in the stop-market order.
To show an Example:
The last Market traded price of 1 BTC is 200.000.000 VND. If you think that the price will go higher, you can put a stop-Market order to automatically buy BTC at the Market price that you would expect it to be. This way you won’t have to continuously watch market movements waiting for the price to reach your target price.
Approach: Select “stop-Market” order, then specify the stop price to be 220.000.000 VND, with quantity as 10. Then click the button “Buy BTC” to submit the order.
When orders are executed or discarded, your stop-Market order history can be found in “Order History”.