Essentials – Limit Order

What is a limit order?

A limit order is an order type that a trader can use to buy or sell currency at a specified price or better. A buy limit order is an order to buy at or below a specified price, while a sell limit order is an order to sell at or above a specified price. Limit orders can help traders manage risk by ensuring they do not pay too much for a cryptocurrency or sell it for too little. You can also use it to take advantage of favorable prices in the market.

How to create a Limit Order in the Volven Terminal

Alternative 1:

1. From the Ticker view:
1. Select the Symbol you would like to trade
2. Drag and drop the symbol to the “Limit Order” Icon
   
2. Inside the Limit Order Panel, fill in your desired
1. Side (Buy or Sell)
2. Size
3. Limit Price

You may also use the sliders to adjust the Size and Price.

Alternative 2:

1. From the Ticker View
1. Click on the “Limit” icon
2. Inside the Limit Order Panel, fill in your desired
1. Account
2. Exchange
3. Product
4. Side
5. Size
6. Price Limit

You may also use the sliders to adjust the Size and Price.

Let’s explain a buy example with the following parameters:

Buy 0.2 BTC/USDT at a limit of 17 100 on Binance Exchange.

Default settings for Limit order

Size: 10% of holdings

Price: Current best bid for buy orders and current best offer for sell orders. Please note that by the time you manage to launch this order best bid and best offer may have changed.