user47098: I am sure this is a simple question but I am having trouble with figuring out the type of order to place on Bitstamp.
Say the price is currently $1100 but I want to buy only if the price drops to $1000, what type of order would I place? I thought this was a "Stop" order, but the Bitstamp UI asks me to specify the amount to buy in USD if the price rises to my given value. I am worried that if I enter $1000 and place this order, my order will instantly kick in because the price is already above $1000.


user47098: I figured this out. A "Limit" order is what I wanted to do.
A limit buy order will trigger if the price hits the target or lower. A caveat for anyone unfamiliar like I was: the order won't necessarily be fulfilled at the price your specify, rather it will become a market order which will execute at the next best available price.

47098: <p>I am sure this is a simple question but I am having trouble with figuring out the type of order to place on Bitstamp.</p>

<p>Say the price is currently $1100 but I want to buy only if the price drops to $1000, what type of order would I place? I thought this was a "Stop" order, but the Bitstamp UI asks me to specify the amount to buy in USD if the price <strong>rises</strong> to my given value. I am worried that if I enter $1000 and place this order, my order will instantly kick in because the price is already above $1000.</p>

<p><a href="https://i.stack.imgur.com/gxqGr.jpg" rel="nofollow noreferrer"><img src="https://i.stack.imgur.com/gxqGr.jpg" alt="enter image description here"></a></p>
 47098: <p>I figured this out. A "Limit" order is what I wanted to do.</p>

<p>A limit buy order will trigger if the price hits the target or lower. A caveat for anyone unfamiliar like I was: the order won't necessarily be fulfilled at the price your specify, rather it will become a market order which will execute at the next best available price.</p>
