A Stop Limit order is a conditional trade that combines a stop price (trigger) and a limit price (execution). This order becomes active only when the market reaches the stop price — at that point, a limit order is placed at your chosen price.
This type of order is commonly used to:
- Enter a trade once the price breaks a certain level.
- Protect profits or limit losses on open positions.
Note: Futures trading is supported on the following exchanges: Binance, Bybit, KuCoin, Coinbase, OKX, and Bitget
Step-by-Step Guide to Setting a Stop Limit Order on Bitsgap
Step 1: Select an Exchange and a Trading Pair
At the top of the Manual Trading terminal, choose the exchange where you want to place the order (e.g., Binance Futures) and select the futures pair you want to trade (e.g., BTC/USDT).
Step 2: Choose the Stop Limit Order Type
Click on the Stop Limit tab next to "Limit" and "Market" at the top of the order form.
Step 3: Set the Order Parameters
You’ll need to fill in the following fields:
-
Stop Price
This is the trigger. When the market price reaches this level, your limit order will be placed.
Note: When setting the Stop Price, you can choose to base it on Mark Price (more stable, avoids price manipulation - recommended for liquidation safety) or Last Price (based on the most recent transaction - may be more volatile).
-
Price (Limit Price)
This is the actual price at which the order will be submitted once the stop price is triggered. -
Total
Enter the total amount in USDT/BTC you want to spend (or receive, depending on buy/sell).
You can also adjust:
- Buy / Long or Sell / Short based on the direction of your trade.
- Leverage at the top (e.g., 20x).
- Order Mode: Cross or Isolated.
Example:
You want to buy BTC if the price reaches $110,000 (Stop), but only if you can buy it for $110,100 or less (Limit). You set:
- Stop Price: 110000
- Price: 110100
- Total: 100 USDT
Step 4: Optional Settings
1. Reduce Only
Enable this if you only want to reduce your position, not increase it.
2. TIF (Time in Force)
Choose how long your limit order should remain active once triggered:
- GTC (Good Till Cancel): Stays until filled or canceled.
- IOC (Immediate or Cancel): Executes instantly, cancels the rest.
- FOK (Fill or Kill): Must execute completely and immediately, or be canceled.
Step 5: Place Your Order
Click Buy / Long or Sell / Short to submit the Stop Limit order. The order will sit inactive until the Stop Price is reached.
What's Next?
- Learn More About Scaled Orders: Discover how to use Scaled Orders to execute trades with precision by dividing your investment into multiple levels across a price range.
- Try Our Bots: Launch Your First Bot Today: Experience automated trading by setting up your first bot on Bitsgap and unlocking new trading possibilities.
Need Assistance?
If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap Customer Support Team.