How to Use Limit and Stop Limit Order?

You can use limit and stop-limit in your transactions on the EgeMoney website. Those orders are among the most frequently used orders. In this article, we will explain the order types and how to use them.

What is a Limit Order?

A limit order is one of the orders you can use to trade crypto assets. Before placing this order, a price is determined. This price should be the maximum buy or minimum sell price. When the determined price is reached, the order you placed before will be executed automatically. This completes your transaction.

What is a Stop-Limit Order?

You can place the stop limit order in two different ways buy and sell. The stop limit order is the price that triggers your limit order. Unlike the limit order, you enter the “Stop” amount and when this amount is decreased, the desired trade will be executed automatically. As a result, this order type is quite similar to a limit order.

Where can I use limit and stop-limit orders?

You can use these order types in the “Spot Market” section of the EgeMoney platform. In addition to this, apart from the two order types, Market and OCO orders are also available.

You can also go to the Spot Market page where you will use these orders by clicking on the “Buy Bitcoin” option, which is one of the headings in the menu at the bottom of the website.

How to use a limit order?

First of all, log in to the website to place a limit order.

Secondly, select the “Spot Market” title from the “Markets” option in the upper left menu.

Here, select the crypto coin you want to trade. Click on the Trade heading.

You will see graphs of the current analysis of crypto. On the right of the chart, you can see the order book and its history. Also, on the left, you can see the prices of the market pairs.

When you scroll down the page, you will come to the section where you will select the order type. Click on the “Limit” heading.

For buying, enter the price you want to buy when the coin decreases in the first box. Enter the number of coins you want to buy in the second box. If all the information is complete, click the “Buy coins” button at the bottom. Your order will be complete.

For sale, enter the price you want to sell at what price the coin you selected comes out in the first box. Enter the amount of coins you want to sell in the second box. Finally, if all the information you have entered is complete, click the “Sell coin” button at the bottom. Your order will be complete.

How to use a stop-limit order?

First of all, log in to the website to place a stop-limit order.

Secondly, select the “Spot Market” title from the “Markets” option in the upper left menu.

Here, select the crypto coin you want to trade. Click on the Trade heading.

You will see graphs of the current analysis of crypto. On the right of the chart, you can see the order book and its history. Also, on the left, you can see the prices of the market pairs.

When you scroll down the page, you will come to the section where you will select the order type. Click on the “Stop Limit” heading.

For buying, enter the top limit price you want to trigger the limit price in the first box. In the second box, enter the amount of crypto you will receive. Finally,  click the “But coin” button at the bottom. Your order will be complete.

For selling, enter the stop price that will trigger the price of the coin you selected in the first box. In the box below, enter the amount of crypto coins you want to sell. Finally, click the “Sell coin” button at the bottom. Your order will be complete.