What is a Stop-Order?

A stop-order will be executed at market price. Once the stop price is reached, the market order is triggered to buy or sell at the current market price. Please note that you can only have 4 stop-orders open at any one time. 


When you place a market order, the instruction is to fill your order at any rate in which the market (other traders, not the exchange) will provide.  

Market orders should only be used when one wants to liquidate a position at any cost.





What does all the jargon mean?
Stop price: If the current price reaches the given stop price, the stop-order is executed to BUY or SELL at the market price 
Amount {CURRENCY SYMBOL}: The amount to BUY or SELL in the stop-order.


Also read about Slippage. 


Example:
The last price bitcoin traded at is R100, and the resistance is around R110. If you think that the price will go higher after the price reaches the resistance, you can put a stop-order to automatically buy more bitcoin. This way you won’t have to continuously watch market movements and no waiting for the price to reach your target price. When the price reaches R110 a BUY market order is placed.