How do I use OKEx's stop-market order feature to execute trades at specific prices ?

[Serum]

I'm new to OKEx and I'm having difficulty understanding how to use the stop-market order feature to execute trades at specific prices. I understand that this feature is similar to a stop-loss order, but I'm not sure how to set the parameters for the trade. Can anyone help me out?

I've done some research on the topic, but I'm still not sure how to configure the stop-market order to get the trade I want. What are some tips or tricks I can use to make sure I'm making the right trades? Are there any tools I can use to more easily set up the order?

Any advice would be greatly appreciated! Thanks in advance.

 

[Elliot]

What is a Stop-Market Order?

A stop-market order is a type of order used by traders to execute trades at specific prices. It is a type of order that is triggered when the price of an asset reaches a predetermined level. The order is then executed at the current market price, regardless of the direction of the price movement.

How Does OKEx's Stop-Market Order Feature Work?

OKEx's stop-market order feature allows traders to place orders that will be triggered when the price of an asset reaches a predetermined level. Once the order is triggered, it will be executed at the current market price, regardless of the direction of the price movement.

What Are the Benefits of Using OKEx's Stop-Market Order Feature?

Using OKEx's stop-market order feature can provide a number of benefits for traders. Firstly, it allows traders to set predetermined levels at which their orders will be executed, eliminating the need to monitor the market constantly. Secondly, it helps traders to limit their risk by allowing them to set a maximum price at which they are willing to buy or sell an asset. Finally, it allows traders to take advantage of market volatility by allowing them to enter and exit positions quickly.

How Do I Use OKEx's Stop-Market Order Feature?

Using OKEx's stop-market order feature is relatively straightforward. First, traders must select the asset they wish to trade, and then select the stop-market order option. They must then enter the price at which they wish to trigger the order, as well as the volume of the order. Once the order is placed, it will be triggered when the price of the asset reaches the predetermined level. Once triggered, the order will be executed at the current market price.