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 19000.00 USDT(A) and you want to buy some BTC at the price of 18000.00 USDT(C), you can place a limit buy order with a limit price of 18000.00 USDT. When the price drops to C or lower, the limit order will be filled. If you set the limit price as 20000.00 USDT(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 19000.00 USDT(A) and you want to sell some BTC at the price of 20000.00 USDT(B), you can place a limit sell order with a limit price of 20000.00 USDT. When the price goes up to B or higher, the limit order will be filled. If you set the limit price as 18000.00 USDT(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 sell BTC at the price of 16950.00 USDT, you can place a limit order with a preset order price of 16950.00 USDT. You can directly enter the amount of BTC you want to sell or you can move the slider to choose the percentage of BTC amount that you want to sell. For example, I have 0.00009 BTC in my Available, and I move the slider to sell 22% percent of them, the system will auto-calculate the sell amount and the total USDT I will receive.
After confirming the order, click “Sell BTC” and place a limit order. When the market price hits 16950 USDT or better, 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”.
