# Stop limit orders on Tsunami Exchange

By [Tsunami Exchange](https://paragraph.com/@tsunami-exchange) · 2023-08-03

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_Hi everyone, in this article we will tell you what stop-limit orders are and how to use them on Tsunami Exchange. 🐳_

First of all, let's turn to the concept of limit orders. Limit orders are orders that are executed when the price of an asset reaches a certain value. You can already use limit orders on all Tsunami pairs, but we went further and today we offer you stop limit orders.

**What is it?**

A stop-limit order is a so-called preset limit order, which is placed in advance and triggered when a certain price is reached.

**Example**

Let's consider a case in which a user wants to set a limit order "long" at Waves price equal to 1.7$. The current price of Waves is 1.6$.

The user believes that if the price reaches the resistance line of 1.9$, a correction to the level of 1.7$ will follow, after which Waves will return to growth.

So, he holds a long position with take profit at $1.9 and creates a stop limit with Stop price of $1.9 and Limit price of $1.7. Thus the order will be created only if the price reaches 1.9$ and will be executed when the price returns to 1.7$.

**How long does a stop-limit "live"?**

When placing a stop-limit order, the user has 60 days to let the price of an Asset reach a certain set value. After that the order will have to be placed again.

**Benefits of stop-limit orders**

1.  The user no longer needs to wait until the price in a pair reaches a certain level, but can specify in advance the condition under which a limit order will be created;
    
2.  The user does not pay commissions to the protocol for holding a stop-limit order (only for the execution of transactions);
    
3.  The trading process becomes more automated.
    

We congratulate our users on the release of the update and still strive to take center stage for trading in the Waves ecosystem! 🚀

_Your Tsunami Team! 💙_

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*Originally published on [Tsunami Exchange](https://paragraph.com/@tsunami-exchange/stop-limit-orders-on-tsunami-exchange)*