Can I use STOP_LOSS_LIMIT with same stop and price value?

[markzzz]

Hi,

my intention is to use STOP_LOSS_LIMIT for some SELL orders.
It seems that if I set the stop price and the price to the same amount, it could works.

i.e. I’ve set both at 0.1566 here, and once it has reached the stop price, it automatically had set the limit order at the same amount, filling it totally exactly at 0.1566:

Question is: does it really works as I expected? Or I was just “lucky”? Maybe in some cases this won’t work? I think to sharp change for example…

Can a STOP_LOSS_LIMIT be always filled with stop and price the same?

Can you help me to understand this in details please?
Thanks

[tantialex]

Yes it’s always possible. The limit price has no dependancy on the stop price.

[markzzz]

@tantialex

Yes it’s always possible. The limit price has no dependancy on the stop price.

Anyway, it seems I’m not able anymore to place this kind of order with API?

let instrument = "BUSDUSDT";
let type = "STOP_LOSS_LIMIT";
let side = "BUY";
let stopPrice = 0.9999;
let sellPrice = 0.9999;
let sellQuantity = 11;

it returns:

{ 
	code: -2010, 
	msg: 'Stop price would trigger immediately.' 
}

Why?

[tantialex]

This error is not related to the relationship between the limit price and stop price, but the stop price and the last price.

When placing a STOP_LOSS_LIMIT BUY order, the stop price must be be greater than the last price. Use a TAKE_PROFIT_LIMIT BUY order if you intend to place a stop price lower than the last price.

[tantialex]

and execute when the last price is 0.9999, it should work.

That is correct.

I try to execute “in loop”, but no one try have placed the order. Why? Isn’t the “last price” the “current close price”?

Yes, last price is the last trade price, also known as close price in context of a open kline. I suggest placing the STOP_LOSS_LIMIT stop price significantly greater to test the order out. (Order will not be filled unless the stop price is hit)

[tantialex]

@markzzz

STOP_LOSS and TAKE_PROFIT will place a MARKET order.
STOP_LOSS_LIMIT and TAKE_PROFIT_LIMIT will place a LIMIT order.

[Saratoga]

With the corresponding risk of not being executed

SPOT an OPEN order didnt excecute after the price cross it.

The stopPrice and price value are too close together, in fact, for your case, it is similar. The reason is because if the price is crashing very quickly, the price has already dropped pass your limit order’s sell price and thus your limit order will not be matched. Try to have the stopPrice at a higher value instead of setting it at your target sell price.

[markzzz]

Ok, but so if I do this:

let instrument = "BUSDUSDT";
let type = "STOP_LOSS_LIMIT";
let side = "BUY";
let stopPrice = 1.0000;
let sellPrice = 1.0000;
let sellQuantity = 11;

and execute when the last price is 0.9999, it should work. There is lots of oscillation here between 1.0 and 0.9999:

I try to execute “in loop”, but no one try have placed the order. Why? Isn’t the “last price” the “current close price”?

[markzzz]

@Saratoga

With the corresponding risk of not being executed

So its correct to say that while the current price is within the stop/limit prices (even if the same), the order will be filled progressively using market order type?

i.e. if I have oscillation between 1.0001 and 1.000, and I place both stop and price at 1.000 (BUY type), the traders will do market trade when the current price reach 1.000?

[markzzz]

@tantialex

Yes, last price is the last trade price, also known as close price in context of a open kline. I suggest placing the STOP_LOSS_LIMIT stop price significantly greater to test the order out. (Order will not be filled unless the stop price is hit)

But once reached the stop price, will it place a limit order or market order this mechanism?