Ah yes it looks like the 'stop market' option is available on the 'Futures' screen but it won't give me access to all coin/token trades in 'Futures' from what I can tell. If I want put a 'stop market' sell order for the SPELL/USDT pair for example - is this not possible?
Apologies I explained this incorrectly - I shouldn't have used $1 as the LIMIT example as that was way too high!... Basically what I'm asking is, using SPELL/USDT as the example, if I want to put a stop limit order to sell if/when SPELL goes down to $0.0062, what happens if I put the STOP amount as $0.0062 and the LIMIT amount as $0.0001? My understanding is that putting the LIMIT so low will essentially make this a 'stop market' order as a) it will sell as close to $0.0062 as possible but maybe just under, and b) putting the LIMIT so low will essentially mean that the sell order is bound to go through.
So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly?
Yes, you are absolutely right with that explanation. However, I don't think you need to set the limit price too low at $0.0001. Maybe this is okay for an exchange that has a high trading volume like Binance. What I'm worried about, is that you apply it in a low-volume exchange, the opportunity to sell at the lowest price is very possible. Just set a limit price at a fair value (you can afford to sell at that price). So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly?
Ok... thanks for your help
