A Stop Order is a conditional trigger order provided by YAX. It is generally used to help you stop your position at a specific price. You can set a trigger price for the Stop Order, and when the market price reaches that trigger price, the system will automatically trigger a market order.
For example, if the current market price for ETH/USD is 1500 and you place a Stop Sell Order with a stop price of 1000, the system will automatically submit a market order when the market price reaches 1000.
Please note that the Stop Order cannot guarantee the execution price of your order. In cases of low liquidity, your execution price may be significantly lower than the market price. Stop orders and Stop Market orders also need to comply with the matching engine’s limit rules, which means that the spot execution price cannot be higher or lower than the previously executed trade by 5%. In some cases of extremely low liquidity, your order may not be executed.