Dear Tribe!

We are elated to be a part of your crypto journey. Please be assured that we at WazirX are here for you if you need any assistance. In case you have any concerns, after reading our guides, you can always reach out to us here.

WazirX Guides

• How to open an account on WazirX?
• How to complete the KYC procedure on WazirX? 
• How to add a bank account and deposit INR on WazirX?
• How to deposit INR into your WazirX wallet through Mobikwik?
• How to buy Crypto with the WazirX QuickBuy feature?
• How to buy and sell Crypto on WazirX? 
• How to deposit and withdraw Crypto on WazirX?
• How is the trading fee calculated on WazirX? 
• How to place a stop-Limit order?
• How to download the trading report on WazirX?
• How to use WazirX P2P?
• How to use the WazirX Convert Crypto Dust feature?
• What are the benefits of the WazirX referral feature, and how to use it?
• Which are the official WazirX channels, and how to reach WazirX Support?

What is Stop-Limit order?

A stop-limit order is a form of limit order that allows traders to protect their profits as well as limit losses, reducing the risks associated with erratic market movements. To create a stop-limit order, you’ll need to first choose the stop price, limit price, and order volume.

• Stop Price: The price at which your limit order will be triggered and entered into the order book.
• Limit Price: Your order will be placed in the order book at the limit price.

When the market reaches or goes through the Stop Price, a Limit Order will be placed at the Limit Price.

How to place a Stop-Limit order?

1. Click on the drop-down list in the Buy/Sell Form. 

2. Select Stop Limit.
3. Enter your Stop price.
4. Enter your Limit price.

5. Enter the amount of crypto you’re looking to buy. You can also use the % buttons to automatically fill the amount.

6. Click on the Buy button.

Please note: 

• The Stop Price and Limit Price can be the same. However, we recommend the following:
  • For Sell Orders: Set the Stop Price higher than the Limit Price. This will increase the likelihood of your Sell Limit Order being executed. In case the liquidity in the Order Book is low or the market goes through too fast.
  • For Buy Orders: Set the Stop Price lower than the Limit Price. This will increase the likelihood of your Buy Limit Order being executed. In case the liquidity in the Order Book is low or the market goes through too fast.
• Triggering the Stop Price and placing the Limit Order does not guarantee that your order will be fully filled or executed. Sometimes, the liquidity may be low at your Limit Price or the market may go through your limit price too fast. In these cases, your Limit Order will remain fully or partially open in the Order Book.
• Sometimes, while the Stop Price may be triggered, the market may not reach your Limit Price. In this case, too, your Limit Order will remain fully or partially open in the Order Book.
  • Example (Buy): Let’s say you want to buy LTC when the market price reaches $50, but don’t want to buy above $52. Set a Stop Limit order with a Stop Price of $50 and a Limit Price of $52. When the market reaches $50, your Buy Limit Order for $52 will be automatically placed in the Order Book and matched to the best available sell orders up to $52.
  • Example (Sell): Let’s say you want to sell LTC when the market price reaches $70, and sell everything within $65. Set a Stop Limit order with a Stop Price of $70 and a Limit Price of $65. When the market reaches $70, your Sell Limit Order for $65 will be automatically placed in the Order Book and matched to the best available Buy orders up to $65.

Happy Trading!!