Stop market orders are basically your trading autopilot. Here's how they work:
**Stop-Loss**: Price hits your trigger level → order sells instantly at market price. You sleep, your losses don't blow up. Example: BTC at $30K, you set stop at $29.5K. Market dips to $29.5K? SOLD. Done.
**Take-Profit**: Price moons to your target → auto-sells at market price. Lock in gains before the dump. BTC at $30K, profit target $32K? Once it hits $32K, you're out at best available price.
**Why traders love this:** - No 24/7 chart watching needed - Emotions don't ruin your trade - Losses and gains both handled automatically
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**Ever Set a Stop Loss and Forgot About It?**
Stop market orders are basically your trading autopilot. Here's how they work:
**Stop-Loss**: Price hits your trigger level → order sells instantly at market price. You sleep, your losses don't blow up. Example: BTC at $30K, you set stop at $29.5K. Market dips to $29.5K? SOLD. Done.
**Take-Profit**: Price moons to your target → auto-sells at market price. Lock in gains before the dump. BTC at $30K, profit target $32K? Once it hits $32K, you're out at best available price.
**Why traders love this:**
- No 24/7 chart watching needed
- Emotions don't ruin your trade
- Losses and gains both handled automatically
Basically: set it, forget it, live your life.