"Stop-Limit" Feature

[s4v4g3]

Hello,

I'm really new to cryptocurrency trading, I've successfully made some buy & sell orders but I don't understand how the stop-limit feature works
I've seen some tutorials on how to use it but it doesn't seem clear to me as a newbie
Could anybody explain it in a simple way so I could trade safely?

Thanks in advance.

[mk4]

Basically you set a "trigger" price and a buy/sell price, whereas your buy/sell offer will be listed if that certain trigger price is reached. Stop limits are used just as a sort of safety net just to somewhat hopefully minimize your losses when a certain coin's price crashes.

Hopefully you can understand it better by looking at the screenshot below (from Bittrex). Look at the conditional options.

[Dalmar]

Hello,

I'm really new to cryptocurrency trading, I've successfully made some buy & sell orders but I don't understand how the stop-limit feature works
I've seen some tutorials on how to use it but it doesn't seem clear to me as a newbie
Could anybody explain it in a simple way so I could trade safely?

Thanks in advance.

Limits are mainly used to grab a good deals.Let's take stop loss or take profit which both are considered as stop limits.First one is closing the position in case of determined loss and other way for second one.

[In the silence]

Basically you set a "trigger" price and a buy/sell price, whereas your buy/sell offer will be listed if that certain trigger price is reached. Stop limits are used just as a sort of safety net just to somewhat hopefully minimize your losses when a certain coin's price crashes.

Hopefully you can understand it better by looking at the screenshot below (from Bittrex). Look at the conditional options.

I dont understand too how it works but this post made me realize how the stop limit works, thank you mate.
I will try this later, and seems like i can go outside using this.