What is a Limit Order?
A limit order is an order placed with a preset price and amount. Only when the market price matches with the limit price or better, the limit order will be filled. It is worth noting that if the price of a specific asset cannot reach the preset price or better, the limit order stays unfilled.
Limit Order Illustration
Buy
Supposing that the current price of BTC is 19,000 JPY (A) and you want to buy some BTC at the price of 18,000 JPY (C), you can place a limit buy order with a limit price of 18,000 JPY. When the price drops to C or lower, the limit order will be filled. If you set the limit price as 20,000 JPY (B), which is higher than the current price, the limit order will be filled immediately. The fill price will be close to price A instead of B.
Sell
Supposing that the current price of BTC is 19,000 JPY (A) and you want to sell some BTC at the price of 20,000 JPY (B), you can place a limit sell order with a limit price of 20,000 JPY. When the price goes up to B or higher, the limit order will be filled. If you set the limit price as 18,000 JPY(C), which is lower than the current price, the limit order will be filled immediately. The fill price will be close to price A instead of C.
Limit Order User Guide
If you want to buy BTC at the price of 10,000,000 JPY, you can place a limit order with a preset order price of 10,000,000 JPY. You can directly enter the amount of JPY you want to spend, or you can move the slider to choose the percentage of your available JPY balance that you want to use.
For example, I have 10,000,000 JPY in my Available balance, and I move the slider to spend 25% of it. The system will automatically calculate the buy amount of BTC I will receive at the limit price.
After confirming the order, click Buy BTC to place the limit order. When the market price drops to 10,000,000 JPY or lower, this limit order will be filled.
How to View the Limit Order History
Click Open Orders - Limit to check the ongoing limit orders and their details. Filled limit orders can be seen in Trade History and Order History. A canceled limit order can only be seen in Order History.
