GDAX Stop Order Explained (Stop Loss)
691An error in the video: in the stop orders, i had the stop price and limit price switched. if a coin is $100 you would set a stop price of $99, and a limit of $98. you would begin selling at 99 but sell for no less than 98. the 98 dollar limit order executes as a limit order.
so if a coin is $100
stop price = $99 begins sell off
limit price = $98 any unsold coins then sell as a limit order
explaining the market order, limit order, and stop order on the GDAX exchange.
just be careful with stop orders. crypto notoriously causes them to carry through with the order while you are sleeping, selling for less only because of a couple hour long dip or something.
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