Anyone ever do a stop loss on Coinbase Pro? I want to make sure I get this right.
I'm assuming that this is what these things mean;
Stop Price - The price at which I want the trade to execute. For example, ETH is at $3,171 and I want to sell if the price drops to $3,075 then the Stop price would be $3,075.
Amount - This would obviously be the amount of ETH I want to sell at that stop price.
Limit Price - What goes here? Is this the lowest price at which I will sell with the slippage? So, something like $3,050? Meaning the trade will only execute when the price hits $3,075 but not below $3,050?
I've read about slippage a little and I think the Limit Price has something to do with that, but I'm not finding a clear answer.