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Limit orders and how to place them

Each order has a price and volume - the amount of an asset the trader is willing to buy or sell. When a limit order is set at the exchange, it appears in the order book and is available to all trading participants.

Limit order is an order to buy or sell a certain volume of an asset at a price specified by the trader.

Upsides:

No need to manually check the price level, the order will be executed automatically when the desired price is reached;

The order will be triggered even if the trader is offline;
The risk of slippage when sending an order is reduced;

Downsides:

The limit order will not be executed if the asset price never reaches the set value or skips it during the gap.

Each order has price and volume - the amount of asset the trader is willing to buy or sell. When a limit order is set at the exchange, it appears at the order book and is available to all trading participants. A counter order for the same amount and volume has to be received for this limit order to be executed.

How to place a limit order:

1. Choose a currency pair from the Instruments List in the left part of the screen;


2. In the Order Panel in the lower right corner of the screen, choose BUY or SELL depending on what you want;

3. Choose the order Type - Limit.

4. Set the price in the Price field and the volume that you want to buy or sell in the Amount field;

5. The Value&fee window will automatically calculate the amount of the base currency, including the fees;

You can also do the opposite - enter the amount that you want to spent on this deal in the Value&fee field, and it will automatically calculate the amount of the base currency in the Amount field.

6. Press the Place Order button.


Hint: One way to get benfits of both market and limit orders, is to place a limit order in the middle of the Order book. For example, in the first screenshot for the BTC/EUR pair, the first selling order is at EUR 8 239. It a trader wants to buy 0,005 BTC, they can set a limit order for the price of EUR 8 241. Then the order will be immediately executed at EUR 8 239 and EUR 8 240. This way the trader can limit the price range for the trade.